Crypto
Bitcoin Price Stabilizes at $86K Amid Crude Oil Slump
Bitcoin's price has been fluctuating around $86,000 after hitting fresh highs on Monday.
The move comes as crude oil prices dropped to their lowest levels in nearly three weeks, with WTI crude oil falling below $90 per barrel before reversing back towards $92.
In a speech at the UN General Assembly, US President Donald Trump suggested that a deal to end the war with Iran could come after November's midterm elections.
Onchain analytics platform Glassnode noted that Bitcoin's market value to realized value (MVRV) ratio has crossed above its 365-day moving average, which is seen as a sign of the end of bear-market accumulation and potentially a breakout for Bitcoin's price.