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Picknexo · Review
Published September 18, 2026
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Updated: September 18, 2026 | PickNexo
The rally is being supported by several developments at once. Spot Bitcoin ETF flows have returned to positive territory, U.S. regulators are continuing crypto rulemaking without waiting for Congress, and traders appear less concerned that recent interest-rate increases will lead to an aggressive global tightening cycle.
Still, the market has not fully escaped its risks. Institutional demand remains uneven, corporate Bitcoin purchases have slowed, and major regulatory disputes are continuing in both the United States and Europe.
Bitcoin rose more than 5% on Friday and traded above US$80,000 during the U.S. session. The move followed several weeks of consolidation between roughly US$75,000 and US$78,000.
The breakout is important because Bitcoin has moved above the range that contained the market earlier this week. The next test is whether BTC can hold above US$80,000 after the initial momentum fades. A sustained close above that level would strengthen the recovery, while a quick return below US$78,000 would suggest that short covering played a large role in the move.
Institutional demand showed an early sign of improvement after several difficult sessions. U.S. spot Bitcoin ETFs recorded approximately US$159 million in net inflows on September 17, reversing the previous day's outflow of nearly US$296 million.
The improvement is not yet a complete trend change. Ether and XRP funds continued to report outflows even as their underlying assets moved higher, showing that institutional participation remains selective. Several consecutive sessions of Bitcoin ETF inflows would provide stronger confirmation that larger investors are returning.
Two major central banks increased interest rates this week. The Federal Reserve raised its target range by 25 basis points to 3.75% to 4.00%, while the Bank of Japan increased its policy rate by 25 basis points to 1.25% on September 18.
Bitcoin's ability to rally through both decisions suggests that positioning and expectations mattered more than the rate increases themselves. However, future inflation data remains critical. A renewed rise in price pressures could force central banks to stay restrictive for longer and challenge the current recovery.
The U.S. Senate's failure to advance the CLARITY Act has not stopped federal agencies from developing crypto rules. The Commodity Futures Trading Commission submitted crypto-asset rulemaking for White House review, according to reports on Friday.
Together, these actions show that regulators are using existing authority to address market structure, tokenization and software providers while Congress remains divided. Agency rulemaking may give the industry faster guidance, but it can also create a patchwork of requirements that is less durable than comprehensive legislation.
Solana and Hyperliquid were among the strongest large-cap assets, each gaining around 10%. SOL returned above US$100 as traders moved back into higher-beta networks and decentralized finance tokens.
Hyperliquid reached a record above US$90 after introducing manual borrowing for stablecoin loans backed by HYPE and Bitcoin. The feature expands the platform's credit market, but it also introduces additional collateral and liquidation risks that users need to understand.
The rally extended beyond the largest cryptocurrencies. Layer-2 and decentralized finance tokens outperformed as post-Fed concerns faded, with most constituents in broad crypto market indexes trading higher.
The risk is that smaller tokens remain more sensitive to leverage and liquidity. If Bitcoin loses momentum, Layer-2 and DeFi assets can surrender their gains faster than BTC or ETH.
Zcash is preparing a November network upgrade designed to make private transactions up to three times faster. The development follows a major rally in ZEC and renewed market interest in privacy-focused digital payments.
Privacy technology remains one of crypto's most sensitive regulatory areas. Networks must balance legitimate demand for financial confidentiality with compliance concerns involving money laundering and sanctions evasion.
Despite the market rally, corporate treasury demand appears weaker. Public companies added only about 5,900 Bitcoin over the past three months, according to CoinDesk's reporting, a sharp slowdown compared with earlier periods of aggressive accumulation.
Investors should distinguish between headline announcements and completed purchases. Treasury strategies can be delayed by financing conditions, shareholder approval, market volatility or changes in a company's share price.
Binance is facing renewed scrutiny over its attempt to secure authorization under the European Union's Markets in Crypto-Assets framework. The Wall Street Journal reported that European Central Bank President Christine Lagarde intervened over compliance concerns, even though the ECB does not formally grant MiCA licenses.
The dispute illustrates how MiCA implementation can involve more than a technical licensing checklist. Governance, anti-money-laundering controls and the political confidence of European authorities can all affect whether a major exchange receives access to the region's unified market.
The first signal is whether Bitcoin can hold US$80,000. A stable move above that threshold could encourage additional momentum buying, while a drop below US$78,000 would weaken the breakout.
The third signal is altcoin breadth. Continued strength in Solana, Hyperliquid, Layer-2 networks and DeFi would show that the recovery is expanding rather than depending only on Bitcoin.
The fourth signal is regulatory implementation. The market will watch the CFTC's proposed rules, the first applications under the SEC's tokenized-stock exemption and any attempt to revive crypto legislation in Congress.
The fifth signal is global monetary policy. Investors have absorbed this week's Fed and BoJ decisions, but inflation, bond yields and the path of future rate increases remain important risks.
Crypto markets are closing the week with their strongest recovery in several sessions. Bitcoin has reclaimed US$80,000, Ether is approaching US$2,600, and Solana and Hyperliquid are leading a broad altcoin advance.
ETF inflows and regulatory progress are supporting the move, while the market has so far absorbed interest-rate increases in both the United States and Japan. The SEC and CFTC are also demonstrating that crypto policy can continue to develop even after the CLARITY Act stalled.
The recovery is promising but still needs confirmation. Sustained Bitcoin ETF inflows, continued market breadth and a stable hold above US$80,000 would make the rally more convincing. Weak corporate buying, uneven altcoin liquidity and unresolved regulatory disputes remain reasons for caution.
This article is for informational purposes only and should not be considered financial advice.
Sources: The Block, CoinDesk, Cointelegraph, Bank of Japan, U.S. Securities and Exchange Commission, Yahoo Finance, Fortune, CoinDesk - Binance and MiCA.