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Bitcoin rises 35% since August low as spot buyers and ETF inflows drive rally, while derivatives open interest drops 20%.

Market News
29 Sep 2026
Crypto Briefing
View Source
Bullish
Bitcoin rises 35% since August low as spot buyers and ETF inflows drive rally, while derivatives open interest drops 20%.

Bitcoin has surged 35% from its August low, reaching around $83,000 to $84,000 in late September, while open interest in Bitcoin derivatives has fallen nearly 20%, hitting lows not seen since March. This unusual trend indicates the rally is fueled mainly by spot market buyers and significant inflows into Bitcoin ETFs, rather than speculative derivatives trading. After a major short liquidation event in August cleared leveraged positions, the market appears to be maturing with price momentum driven by real demand. Resistance is expected near $84,000 to $86,000, where long-term holders have clustered significant supply.

Bitcoin's recent price surge contrasts with the mixed performance of major cryptocurrencies on Pluang as of Sep 30, 2026 01:02 WIB. While Bitcoin rose about 35% since August, only 15 of 50 major cryptocurrencies traded on Pluang gained today, with 34 falling. Among notable movers, AXS increased by 3.62% with a typical hold time of 62 days and a Pluang order activity skewed 71% Sell / 29% Buy, COMP rose 3.56% with a 97-day hold time and balanced order activity, whereas LTC declined by 3.15% with a 78-day hold time and 72% Sell orders.

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