Your day-ahead look for Sept. 21, 2026
By Omkar Godbole|Edited by Jamie Crawley2 hours ago3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on (Dylan Leagh/Unsplash, modified by CoinDesk)SummaryShowThis is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
As the third quarter draws to a close, bitcoin BTC$84,592.36 has surged 44%, marking its strongest quarterly performance since late 2024.
In comparison, gold has risen by 8.7%, while the S&P 500 index has only managed a 2% gain. Wall Street's tech-oriented index, the Nasdaq, has also added just 2%, according to data from TradingView.
This contrasts sharply with the beginning of the year when bitcoin lagged behind, while stocks surged due to enthusiasm around AI technologies.
Encouragingly for bitcoin supporters, it is also outpacing major companies like NVIDIA, which has increased by 11%.
Despite the impressive rally, bitcoin’s current price remains 48% below its all-time high of $126,000 recorded in October 2025, which suggests it is not overly valued just yet.
Other cryptocurrencies have also shown remarkable increases, with ETH, XRP, SOL, UNI, and NEAR posting gains ranging from 40% to 150%.
The initial surge in prices is attributed to oversold market conditions that attracted buyers, alongside a short squeeze that further elevated prices. Recently, favorable regulatory developments have also played a role.
Tagus Capital notes that the recent rally is "anchored by the U.S. SEC’s Sept. 17 decision to grant a temporary, five-year innovation exemption allowing qualifying venues to facilitate secondary trading of tokenized U.S. stocks using automated market makers and blockchain liquidity pools."
They believe Ethereum will gain significantly from this regulatory shift, as it acts as the primary public blockchain for tokenized assets.
While some analysts are optimistic that a full-blown bull market in crypto has commenced, they advise caution. "In our view, this is already a bull market, but that does not rule out sudden pullbacks, so it is worth exercising heightened caution until clearer signals of a transition to active growth emerge," stated Alex Kuptsikevich, chief market analyst at FxPro, in an email.
"The optimism surrounding altcoins is clearly boosting the bulls’ chances in BTC, but in this case, it is better not to get ahead of oneself by rushing to buy coins," he cautioned. Stay vigilant!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today. For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."
What’s trending
- Bitcoin’s price has cleared a key hurdle that has historically preceded major bull runs (CoinDesk): Bitcoin has recently closed above its 50-week moving average for the first time in 45 weeks, a significant indicator that the bear market may be over.
- Stocks rise on AI optimism; lower oil helps bonds (Reuters): Global stock markets rose on Monday, buoyed by strong demand for AI, while oil prices fell amid reports of increased supply from the Gulf, leading to a bond market rally, particularly in Europe.
- Treasury yields ease as global borrowing costs tumble (CNBC): Early Monday saw a decline in Treasury yields, following a global trend of reduced government borrowing costs, with the 10-year Treasury yield at 4.967% after reaching a 19-year high of 5.041% last week.
- Coinbase, Robinhood, Circle could be early winners of SEC's tokenized-stock push, analysts say (CoinDesk): Analysts suggest that while the SEC's tokenized-stock initiative is currently limited, firms like Coinbase COIN$207.15, Robinhood HOOD$122.23, and Circle CRCL$96.88 could benefit if more U.S. securities transition to blockchain technology.
Newsletters
Crypto Daybook Americas - The latest moves in crypto markets, in contextMarket analysis for crypto traders and investors.PreviewSign upBy signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.Today’s signal
Bitcoin's price has topped the May high. (TradingView)The chart illustrates bitcoin’s daily price movements in candlestick format.
Prices surged past $84,000, breaking through the May high resistance and reaching the highest point since January.
If this move sustains, it would confirm a breakout. With minimal trading activity between $84,000 and $97,000, the market faces limited resistance, potentially paving the way for a rapid ascent towards six figures if momentum continues.
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