Bitcoin eyes $100K, Ethereum's evolution and crypto market rally: This week in crypto
Bitcoin surged to a multi-month high of $87,270 on Monday before retreating below $84,000 as U.S. Treasury yields climbed, according to CoinGlass data. The retreat appears temporary: $134 million flowed into spot…
Source: Benzinga on MSN · September 27, 2026 at 10:02 PM · AI-assisted report
Single-sourceSHANGHAI, 28 SEPTEMBER 2026 —
Bitcoin surged to a multi-month high of $87,270 on Monday before retreating below $84,000 as U.S. Treasury yields climbed, according to CoinGlass data. The retreat appears temporary: $134 million flowed into spot Bitcoin ETFs by Friday, with BlackRock’s IBIT adding $97 million and Fidelity’s FBTC contributing $49 million, per Benzinga.
Market Impact
The rally follows Bitcoin’s 24.95% gain in August—its third-strongest monthly performance since 2013 and best since 2017—crushing the historical August average of 2.82%, per CoinGlass. The pattern aligns with a potential "Uptober" rally, a seasonal strength historically tied to positive August-September price moves, with Bitcoin on track for its first such combination since at least 2013.
Ethereum’s trajectory diverges: its co-founder, Vitalik Buterin, told the 12th Global Blockchain Summit in Shanghai that the network is evolving beyond a blockchain into a "much bigger" multi-layered ecosystem, citing progress in protocol upgrades and decentralized applications.
Buterin’s remarks contrast with Bitcoin’s price-driven narrative, as Ethereum’s $5,500 price point became the focus of scrutiny after Kalshi, a prediction market platform, facilitated over one-third of its Ethereum trading volume in near-identical $5,500-sized orders, per a Wall Street Journal analysis. Kalshi has not commented on the findings.
The broader crypto market rallied despite legislative setbacks: the Clarity Act’s failure to advance in the U.S. Senate did not deter gains, with major tokens and crypto-linked stocks posting double-digit increases as regulators proceeded with industry-specific rules. Meanwhile, Ethereum’s circulating supply hit a record low, a trend analysts attribute to institutional accumulation or long-term holder activity—though whether this signals a correction risk or sustained momentum remains unresolved.
For Malaysian markets, the developments highlight growing institutional engagement with crypto assets, with local investors monitoring ETF inflows and regulatory shifts as potential volatility drivers. Ethereum’s pivot toward scalability and decentralized applications could also reshape adoption narratives in Southeast Asia, where blockchain applications in fintech and digital identity are expanding. However, the $5,500 trading cluster and regulatory uncertainty remain key risks to watch.