Bitcoin Breaks $85K Barrier Amid Regulatory Developments and Falling Oil Prices

Bitcoin has surged to an 8-month high of $85,000 at the start of the week, despite two potential hurdles from last week. The largest cryptocurrency gained 5% over last week and is up a further 3.5% on Monday.

The price has been supported by regulatory developments through the SEC, falling oil prices, and easing Treasury yields. This has boosted risk assets, with Bitcoin and US stocks benefiting.

ETF inflows have also fueled bullish momentum. BTC ETFs recorded $433.03 million in net inflows on Friday, flipping the weekly flow to a net positive $6.21 million. However, September inflows stand at $313.6 million, well below the $3.52 billion recorded in August.