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Bitcoin rallies above $87,000 despite Fed rate hike, driven by ETF inflows and short covering.

Market News
24 Sep 2026, 13:18 WIB
Crypto news
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Bullish
Bitcoin rallies above $87,000 despite Fed rate hike, driven by ETF inflows and short covering.

Bitcoin surged past $87,000 following the Federal Reserve's interest rate increase to 3.75%-4.00% on September 16, defying expectations that higher rates would dampen risk assets. After initial outflows from US spot Bitcoin ETFs around the rate hike, these funds saw a net inflow of about $2.65 billion over the next five sessions, signaling renewed investor demand. Corporate filings also revealed significant Bitcoin purchases during this period. Analysts suggest the rally was fueled by a mix of ETF demand and short covering, though Bitcoin's price fell back toward $84,000 shortly after, indicating a complex interplay of buying and selling pressures. Investors should watch ongoing ETF flows, open interest trends, and corporate disclosures to better understand future price movements.

Bitcoin's rally after the Fed rate hike provides context for cryptocurrency market activity. For readers following crypto, here is Pluang's market snapshot as of Sep 24, 2026 17:21 WIB: out of 50 major cryptocurrencies priced on Pluang, 6 rose and 43 fell today. Notable movers include ONE at Rp43 with a -24.48% change and 60% buy order activity, SNX at Rp4,127 down 11.87% with 72% buy orders, and SUSHI at Rp4,351 down 11.79% with 47% buy orders.

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