On September 21, Grayscale Bitcoin Trust rose 5.08% in pre-market trading, trading at $65.97/share, with turnover of $6.94 million. The rally was driven by a sharp surge in Bitcoin, which broke above $85,000 for the first time since late January, climbing over 5.5% within 24 hours.

Multiple catalysts fueled the crypto rally. Brent crude fell for a fourth consecutive session to a three-month low as diplomatic signals between Washington and Tehran raised hopes of eased Middle East tensions and restored oil supply. Lower oil prices helped alleviate inflation fears that had weighed on risk assets following the Fed's recent rate hike. Bitwise CIO Matt Hougan stated the crypto winter is over and investors may be witnessing the strongest, longest-lasting bull market in crypto history. BTIG analysts noted that as long as Bitcoin holds $75,000, bulls can target $82,000 and potentially $90,000.

Despite the Senate's rejection of the CLARITY Act last week, Bitcoin has proven resilient in September, down only about 1.5% month-to-date while posting a roughly 32% quarterly gain — on track for its first quarterly advance in a year. Strategy's approximately 845,100 BTC holdings now carry unrealized gains of about $8.1 billion at current prices.

Grayscale Bitcoin Trust is a private, open-ended trust invested exclusively in bitcoin, enabling investors to gain exposure to bitcoin price movements without the challenges of direct custody. It is sponsored by Grayscale Investments, a subsidiary of Digital Currency Group.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)