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The Economic Times
The Economic Times
Shreya Biswas

Why is crypto market up today? Bitcoin (BTC USD) hits $85K for the first time since January, ETH USD, XRP, SOL and altcoins rally amid falling oil prices, lower yields, short liquidations

Bitcoin Crypto United States Oil XRP Block Solana ETF

Why is the crypto market up today, September 21? Bitcoin climbed above $85,000 for the first time since January, while Ethereum, XRP and Solana also posted strong gains. The move came as several market factors aligned, including falling oil prices, lower Treasury yields, Bitcoin's strong weekly close, renewed Bitcoin ETF inflows and a large wave of short liquidations.

The global crypto market also moved higher during Monday's session. Coinpedia reported that total crypto market capitalization had risen about 5% to roughly $2.93 trillion, while the Crypto Fear & Greed Index stood at 76. These figures represent a market snapshot and can change as cryptocurrency prices move throughout the day.

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