Crypto markets are showing strength beyond Bitcoin even as the leading cryptocurrency’s rally narrows, contrasting with concerns about the limited breadth of the S&P 500.
Bitcoin slipped below $86,000 on 22 September 2026 as money moved into Bitcoin Cash (BCH) and Zcash (ZEC). Earlier, Bitcoin had been consolidating near $86,000 while Brent crude fell below $100.
Zcash was the strongest performer among major cryptocurrencies, rising 10% as Bitcoin held close to $87,000. Bitcoin has gained 44% in the third quarter, a performance that has renewed discussion of a wider crypto bull run.
XRP was also being watched for signs of a possible golden cross, with attention shifting towards altcoins.
Coinbase Global Inc shares closed at $197,25, down 1.90%.
Elsewhere in the market, BitMEX officially closed after 11 years. The exchange was an early pioneer of perpetual contracts.
Wallets linked to FTX and Alameda Research transferred $75 million in ether to Wintermute, according to on-chain data.
BlackRock said AI agents could soon use stablecoins to purchase their own computing power and data. Coinbase users can now borrow USDC against bitcoin at a fixed rate.
The XRP Ledger has restarted testing of an upgrade designed to allow banks to separate payment and compliance responsibilities. Solana has also begun testing an upgrade that could reduce transaction finality from 12.8 seconds to 150 milliseconds.
Bitcoin was reported to be on a winning run not seen since 2012.
One options trade involving $3.2 million is betting that Bitcoin will reach $95,000 by the end of October. The position, described as a “bitcoin butterfly”, reflects expectations of further gains despite the recent narrowing of the rally.
Stablecoins are also moving closer to regulated financial markets, with Asia-Pacific emerging as an important testing ground. A report examining the region covers its regulatory framework and use cases, as well as the role of RLUSD.
The market update appeared in CoinDesk’s Daybook newsletter and was presented as a day-ahead briefing for 22 September 2026.
