Bitcoin reached its highest level in 8 months with ETF inflows and macroeconomic developments.

Bahattin Gönültaş September 21, 2026 • Update: September 21, 2026 According to the data from the analysis company CoinMarketCap, the total value of the global cryptocurrency market reached $2.989 trillion with a 5.12 percent increase in the last 24 hours. Bitcoin, which gained more than 5 percent during this period, traded at $85,156 as of 3:25 PM. This cryptocurrency, which achieved a weekly gain of 10 percent, recorded its highest level since January 29, 2026. Ethereum, which ranked second in market capitalization, rose to the $2,721 level with an approximate 6 percent increase. The reduction in geopolitical tensions and the tightening of short positions were effective Analysts state that in addition to technical factors in the rise, the easing of global geopolitical risks plays an important role. The news flow regarding the US administration temporarily suspending potential retaliation attacks against the Gulf region reduced concerns about global energy markets and increased investor appetite for risky assets like cryptocurrencies. Some analysts also stated that the sharp rise in prices was also influenced by the "short squeeze" by speculative investors, and that the requirement for position holders to close their positions accelerated the rise. ETF Inflows The intense interest of institutional investors and the cash flows towards spot Bitcoin ETFs continue to play a decisive role in the upward price momentum in the cryptocurrency market. Only last Thursday and Friday, a net capital inflow of $593 million was recorded for spot Bitcoin ETFs. Furthermore, the announcement by the US Securities and Exchange Commission (SEC) that it will grant temporary exemption for the trading of blockchain-based securities representing real assets was another development that supported the optimism in the markets. On the other hand, Bitcoin, which reached an all-time high of over $126,000 in October 2025, experienced a price correction of over 30 percent after this peak.