#BTC BTC rebound continues. On September 18, during intraday trading, it broke above $81,000, with a daily gain of about 6%, and once again moved above the 50-week moving average. Alex Thorn, head of research at Galaxy, noted that historically, breaking through and holding the 50-week average has been an important reference for confirming a local bottom. Meanwhile, fund flows also showed signs of repair. After two consecutive days of net outflows from BTC spot ETFs, on September 17 they recorded roughly $159 million in net inflows again. Risk appetite also transmitted to crypto-related stocks; Coinbase, Strategy, MARA, and others rose noticeably that day. Worth noting is that this round of recovery occurred in an environment where the Federal Reserve has restarted rate hikes and long-end U.S. Treasury yields remain at elevated levels, yet BTC still managed to chart an independent move amid tightening conditions. Next, it’s important to watch whether ETF capital inflows can continue, and whether BTC can hold above the 50-week moving average—both together will determine whether this repair is merely a short-term swing in risk appetite or the start of a structural improvement in capital flows.