Bitcoin reclaims $87,000 as ETF inflows and fundamentals support rebound

  • Strategy bought 950 Bitcoin between Sept. 14 and Sept. 20 using dollar cash.
  • Strategy paid $75.7 million and held 846,000 Bitcoin after the purchase.
  • Strategy repurchased about $174 million of STRC preferred shares and issued no ATM shares.

Bitcoin reclaimed $87,000 for the first time since January after recovering from a mid-September low near $75,000, with U.S. spot Bitcoin ETF inflows, Strategy’s purchase of 950 Bitcoin, short liquidations and improved risk appetite supporting the rebound. CryptoQuant’s Bull Score Index reached 80, classified as "Extra Bullish," when Bitcoin moved above $80,000 in September, compared with a neutral 50 at the same level in May. Bitcoin gained 14% over the week to a seven-month high near $87,000, while U.S. spot Bitcoin ETFs recorded about $998.95 million to $999 million in inflows on Sept. 21 and a further $714.7 million on Sept. 22. At 1:25 p.m. Sept. 23 in Seoul, Bitcoin traded at $87,164 on Binance, up 1.91% from the previous day, before later easing into the mid-$86,000s; Benzinga Pro separately reported $86,483.14, up 1.20% over 24 hours. Strategy funded its latest purchase from dollar cash, held 846,000 Bitcoin bought for $63.8 billion at an average price of $75,416, and repurchased about $174 million of STRC preferred shares during the same reporting period.

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