If Bitcoin exceeds $82,000, $94,000 is in sight... NEAR surges 30%, Uniswap 26%

▲ Bitcoin (BTC) ©CoinReaders

The altcoin market is stirring again. As the cryptocurrency market capitalization increased by over 2% in 24 hours, Near Protocol (NEAR), Uniswap (UNI), and Aptos (APT) surged by double digits, significantly outperforming Bitcoin (BTC) and Ethereum (ETH). However, analysis suggests that Bitcoin is expected to face significant resistance around $82,000, and funds have been flowing out of US Bitcoin spot ETFs for three consecutive days, so it remains to be seen whether the upward trend will immediately lead to a strong rally.

According to investment media FXStreet on September 18 (local time), the total cryptocurrency market capitalization increased by over 2.2% in 24 hours, reaching $2.66 trillion, nearing the midpoint of its trading range over the past month. Rising stock indices and a general recovery in risk appetite pushed the market up, and no assets among the top 40 cryptocurrencies by liquidity tracked by FxPro declined. Near Protocol surged by 30.1%, Uniswap by 26.2%, and Aptos by 17.9%, while Tron (TRX) rose by only 0.1%, Bitcoin by 1.4%, and Ethereum and XRP (Ripple) by 1.8% each.

The prominent surge in altcoins compared to major cryptocurrencies has led to an analysis that investors' interest is cautiously shifting towards altcoins. However, the Altcoin Season Index and market sentiment have not yet reached high levels. The media assessed that the recent start of the interest rate hike cycle was perceived as a positive event for risk appetite rather than a negative one, and cryptocurrencies somewhat preemptively reflected the subsequent rebound in traditional financial markets.

Bitcoin recovered to around $77,500, rising for three consecutive trading days. FxPro predicted that it could rise relatively easily to around $82,000, but would then encounter strong resistance from its previous consolidation range. Breaking through this level may require an external catalyst, and if successful, the next upward target is set at around $94,000. This price level includes the 161.8% Fibonacci extension formed after the August rally and the upper boundary of the sideways trading range from December 2025 to January 2026. However, due to short-term profit-taking pressure ahead of the weekend, the move towards $94,000 is likely to be delayed until next week or later, according to the media's forecast.

There are also signs that investor sentiment has not fully recovered. Funds flowed out of US Bitcoin spot ETFs for three consecutive days. Wintermute assessed that the outflows from Bitcoin spot ETFs weakened one of the key factors that had supported BTC's rise in recent months. Bitwise believes that the cryptocurrency market can grow even without the adoption of legislation, following the failure of the US crypto market structure bill and the Clarity Act vote. Wall Street is currently pinning its hopes on a favorable approach from the leadership of the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC).

Mark Yusko, CEO of Morgan Creek Capital, proposed a fair value for Bitcoin of $105,000, applying Metcalfe's Law. This law states that the value of a network is proportional to the square of the number of users; in Bitcoin, active addresses and transaction volume are considered key variables. In addition, the US House Financial Services Committee approved a bill to establish a federal strategic Bitcoin reserve. This bill must pass the full House and Senate and then go through the presidential signing process. According to the media, the bill allows the Treasury Department to purchase cryptocurrencies using public funds, not through borrowing, tax increases, or fiscal deficits.

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