News
Monday, September 21, 2026
What’s happening: Bitcoin prices traded higher this morning amid renewed institutional demand.
What happened: The cryptocurrency king surged past the key $81,000 level this morning after recording net inflows last week.
Bitcoin is on course to record gains this month despite the Senate failing to pass the Clarity Act last week, while the SEC and CFTC rolled out new cryptocurrency rules.
Why it matters: Bitcoin has rebounded around 40% from its July lows of $57,700, surging past $81,000 this morning. The cryptocurrency has traded higher month-to-date, positioning it for a third straight monthly gain, defying its typical trend of a weak September.
US spot Bitcoin ETFs recorded net inflows of $433 million on September 18, driven by Fidelity and BlackRock, after seeing heavy outflows earlier during the week. The funds closed the week with net inflows of $6.2 million.
Bitcoin rose despite the Fed raising its key interest rate by 25bps last week to 3.75%-4.00%, marking its first hike since 2023. The central bank also signalled further policy tightening in the near future to combat rising inflation. Higher interest rates typically exert pressure on speculative assets.
Markets see bitcoin as a potential hedge against economic risks. Although the US Senate failed to advance the Clarity Act on September 15, the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) announced plans to create cryptocurrency regulations under their existing authority.
Weakness in the US dollar also lent support to BTC/USD as a softer greenback makes cryptos cheaper for foreign currency holders. The US dollar index, which measures the greenback’s performance versus a basket of major peers, slipped to 100.21 this morning.
Bitcoin rose around 1.2% to $81,229 this morning, while Ethereum surged 3.4% to $2,659.53.
What to watch: Investors will keep an eye on the ongoing US-Iran conflict and inflation releases by major economies.
Context: The Shanghai Composite Index and CSI 300 Index traded higher this morning after the People’s Bank of China left its benchmark lending rates unchanged for the 16th consecutive month.
Details: The People’s Bank of China kept its one-year loan prime rate unchanged at 3.0%, while the five-year LPR was maintained at 3.5%.
While the latest decision highlighted concerns around the ongoing US-Iran conflict, China’s exports have continued to benefit from strong AI-related demand.
Markets still expect slow economic growth to result in an interest rate cut before the end of this year.
Meanwhile, investors monitored talks between the US and China, led by Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng on Sunday, ahead of the summit between US President Donald Trump and China’s President Xi Jinping on September 24.
China’s 10-year government bond yield declined to its lowest level since July 2025 this morning following the rate decision by the People’s Bank of China.
Shares of Shennan Circuit, Foxconn Industrial Internet and Chaozhou Three-Circle rose this morning.
The Shanghai Composite Index rose by 0.55% to 3,933.37 this morning, while the CSI 300 Index climbed 0.42% to 4,526.30.
What to watch: Investors will keep an eye on the US-China meeting on Thursday, which marks the Chinese premier’s first visit to the White House in more than a decade.
With no major economic data scheduled this week, markets will watch data on industrial profits, current account and NBS general PMI from China next week. China’s industrial profits, which climbed 17.6% year-over-year to 4.58 trillion yuan in the first seven months of the year, are expected to surge by 18% in the first eight months of 2026.
Analysts expect China’s current account surplus to rise to $195.1 billion in the second quarter from $128.7 billion in the year-ago period. China’s NBS composite PMI output index, which rose to 49.5 in August from 49.3 in the previous month, is expected to gain further to 50.1 in September.
Other Markets: US trading indices closed mixed on Friday, with the S&P 500 and Nasdaq 100 up by 0.17% and 0.67%, respectively, and the Dow Jones index down by 0.18%.
Ukraine launched its biggest drone attack on Moscow, hitting key oil refinery and a residential complex in the region. The news sent the USD/RUB pair higher in forex trading this morning.
Canada’s new housing prices declined 0.1% in August, after falling at the same pace in the previous month, which lent support to the USD/CAD forex pair.
Colombia’s leading economic index climbed 1.11% year-over-year in July, versus a 3.51% gain in the previous month., which sent the USD/COP pair lower in forex trading this morning.
Eurozone construction output contracted by 2% year-over-year in July, following a 1.4% decline in the previous month. The region’s construction output recording the steepest decline since February exerted pressure on the EUR/USD forex pair.
Macau’s number of tourist arrivals surged by 6.1% year-over-year to 4.478 million in August, compared to a 2.4% rise in the previous month. However, the USD/MOP pair rose in forex trading this morning.