Bitcoin Breaks $86,500 as Nasdaq Records, Oil Slides — SkimNews
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- Bitcoin traded near $86,559 Tuesday, up 12.2% over the past week, clearing the resistance band that had capped it since early September and pushing total crypto market capitalization above $3 trillion.
- Nasdaq Composite touched a fresh intraday record Tuesday after closing up 2.26% Monday — its best day since June — with Intel jumping 12%, AMD gaining roughly 10% and crossing a $1 trillion market cap as chipmakers extended their longest winning streak since April.
- Brent crude briefly slipped below $98 a barrel and WTI fell under $93, their lowest since September 8, after reports that Iran offered to reopen the Strait of Hormuz within days if Washington eases pressure.
- President Trump told the U.N. General Assembly he expects a deal with Iran "right after the election," while Saudi Arabia works to restart its East-West pipeline by the weekend.
- The Federal Reserve raised its benchmark 25 basis points to 3.75%-4% on September 16 — first hike since 2023, unanimous 12-0 — but has continued regular short-term Treasury bill purchases resumed in December 2025, with bond holdings near $6.7 trillion and no longer draining.
- Bitcoin sits in a golden cross with Fibonacci extension targets at $90,763 and $95,074, while Myriad prediction markets price 48% odds it hits $90,000 this month against 25% odds for $92,500.
Why it matters: The Fed hiking while simultaneously buying Treasury bills to keep reserves ample is an unusual combination — rate policy tightens but the balance sheet stops draining, leaving more liquidity than a headline 25bp hike implies. Crypto and equity bulls benefit from that backdrop, and Bitcoin's breakout puts $90K+ in play on a chart that just flashed a golden cross.
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