The cryptocurrency market rallied on September 30, pushing its total capitalization above the $4 trillion mark. Bitcoin, Ethereum, and BNB led the charge, supported by institutional inflows, ETF momentum, and favorable regulatory signals.
Market performance
The overall market cap climbed 1.4% in 24 hours, reaching $4.02 trillion, with daily trading volumes of $173 billion. Bitcoin rose 1.9% to trade above $114,000, while Ethereum gained 2.1%, holding strong above $4,200. BNB and other major altcoins such as Solana and XRP also posted modest gains.
September’s earlier volatility, which wiped out $1.5 billion through liquidations, has steadied. The Crypto Fear & Greed Index recovered to a neutral 50, up from 40 last week. Open interest increased 1.5% to $202 billion, signaling improved market confidence.
ETF inflows fuel rally
Exchange-traded funds (ETFs) have played a pivotal role in the rebound. On September 29, spot Bitcoin and Ethereum ETFs drew more than $1 billion in combined inflows. Ethereum ETFs attracted $546 million, ending a streak of redemptions, while Bitcoin ETFs saw $521 million in new capital, reversing prior outflows.
So far this month, Ethereum ETFs have added $158 million, while Bitcoin ETFs brought in $3.1 billion — a strong signal of institutional demand.
Policy tailwinds and global adoption
Regulatory and policy developments further boosted sentiment. The SEC eased crypto ETF approval rules, with Bloomberg’s Eric Balchunas placing Solana ETF approval odds at 100%. Meanwhile, the CFTC proposed allowing stablecoins as collateral for derivatives.
International moves have added momentum: SWIFT expanded blockchain integration with over 30 banks, Kazakhstan rolled out a Solana-based state-backed stablecoin, and Vietnam extended an invitation to Binance for regional headquarters.
Risks and outlook
Despite optimism, risks remain. A potential U.S. government shutdown could pressure markets, while ongoing probes into crypto treasuries raise caution. Still, history shows Q4 often delivers strong returns, with Bitcoin averaging 20–30% gains in the last four quarters.
If liquidity conditions hold, analysts such as Pantera Capital see Bitcoin reaching $150,000 by year-end. A drop in BTC dominance below 55% may also spark capital flows into altcoins in October, fueling broader market momentum.
