Bitcoin (BTC) surged above $66,000 on September 27, indicating that the journey towards $70,000 has begun. The breakout above $65,000 on September 26 spurred buying activity in U.S. spot Bitcoin ETFs, which saw inflows of $365.7 million.
The rally is not limited to Bitcoin, as select altcoins have also rallied sharply from recent lows, suggesting that sentiment in the crypto space has turned bullish.
Bitcoin's 12% gain in September easily surpassed its previous best performance of 6.04% in 2016. This is a bullish sign, as whenever Bitcoin rallies in September, it has performed extremely well in the fourth quarter, as seen in 2015, 2016, and 2023.
