Bitcoin Soars Past $85K Amid AI Stock Rally and Declining Oil Prices
Bitcoin surged past $85,000 on Monday, marking its highest price since late January. The digital asset gained over 5% in a 24-hour period as investors and traders took advantage of improved risk appetite and substantial short position liquidations.
The surge propelled Bitcoin above the average acquisition cost of U.S. spot Bitcoin ETF participants for the first time since January, according to data from CoinGlass referenced by The Block. Leveraged cryptocurrency positions totaling over $750 million were liquidated during this 24-hour window, with approximately $648 million attributed to short sellers.
AMD's share price increased by around 10% on Monday, pushing the company into the exclusive trillion-dollar valuation club. The semiconductor manufacturer's stock has surged approximately 185% in 2026, outpacing the wider Nasdaq index performance.
The energy market also contributed to the positive momentum, with oil prices declining significantly. Domestic crude dropped around 4.8%, while Brent crude fell by roughly 3.6%. The reduced energy costs alleviated strain on fixed-income markets and enabled Treasury yields to decline.