Bitcoin Breaks Above $86,500 as Nasdaq Hits Record; Oil Slides on Iran Hopes

Bitcoin broke through $86,500 on September 22, clearing a ceiling that had capped its rally through most of September and pushing total crypto market capitalization above $3 trillion. The Crypto Fear & Greed Index read 79, signaling "greed," while the Altcoin Season Index held at 49, indicating Bitcoin still leads. The breakout tracked a broader risk-on mood on Wall Street. The Nasdaq Composite closed at a record September 21, up 2.26% for its best day since June, as AI-linked chipmakers rallied. Intel jumped 12% and AMD gained about 10%, crossing a $1 trillion market cap. Brent crude briefly fell below $98 a barrel and WTI under $93, their lowest since September 8, after reports Iran offered to reopen the Strait of Hormuz if Washington eases pressure. The Federal Reserve raised its benchmark rate 25 basis points to 3.75%-4% on September 16, its first hike since 2023. Bitcoin's daily chart shows a golden cross, with Fibonacci extensions targeting $90,763 and $95,074. XRP rose to $1.57; Solana gained 18.2% on the week.