Bitcoin has climbed to its highest level since late January, reaching an intraday peak of $87,374 on Monday, Sept. 21, as billions of dollars flowed back into the cryptocurrency market.
The wider crypto economy is approaching a total value of $3 trillion after recovering from last week’s lows, when bitcoin traded at about $75,000 to $76,000. BTC was holding in the mid-to-high $86,000 range, up roughly 6% to 7% over the previous 24 hours, with its market capitalisation around $1.73 trillion.
The rally has prompted renewed speculation that bitcoin could soon challenge the psychologically important $90,000 mark. However, the leading crypto asset remains roughly 31% below its all-time high of near $126,277, recorded on Oct. 6, 2025.
Bitcoin’s advance over the past week has taken it above its 50-period weekly moving average. Monday’s rise also moved through a closely watched liquidation zone between $83,000 and $86,000, forcing hundreds of millions of dollars in bearish positions out of the market.
US spot bitcoin exchange-traded funds recorded net inflows of $433 million on Friday, Sept. 18. Strategy also said on Monday that it had bought a further 950 BTC during the previous week, taking its holdings to 846,000 BTC.
The market’s sudden recovery has sparked debate across social media about what drove the move, whether it can continue and how far bitcoin might rise.
Plan B, the creator of the stock-to-flow (S2F) model, suggested the cryptocurrency could be approaching a significant period. “Last time you’ll see Bitcoin under $100K?” he wrote on X on Monday. “Look at the October column. Uptober is loading,” added the pseudonymous analyst.
September has historically been a difficult month for bitcoin prices, whereas October has more commonly produced gains. That seasonal pattern has added to the expectation among some market participants that further increases could follow.
One trader described the current cycle as a potentially final opportunity for exceptionally large returns. “This is the last mega ROI crypto bull,” the account wrote on X. “You will never be able to 10-20-30x coins like you be able to here shortly ever again. This is it. The final glitch in the matrix. Perform.”
Altcoin investors, meanwhile, are forecasting the possible return of an “Altcoin Season”. “ALTSEASON 3.0 STARTS HERE,” another X account posted. “OTHERS just broke a weekly downtrend from 2024. Every time this happens, alts go vertical. Lock in.”
The Altcoin Season Index currently stands at 47. It must reach 75 or above for Bitcoin Season to be replaced by Altcoin Season.
Several major altcoins have risen by more than bitcoin during Monday’s session. Ethereum, solana, XRP and monero all moved higher alongside BTC, while a number of smaller crypto assets recorded double-digit gains.
