Bitcoin Surges Above $85,000 Amid Global Market Rally

Bitcoin has broken through $85,000 for the first time since late January, fueled by advances in stocks and bonds.

The rally comes as falling oil prices and optimism ahead of a summit between US President Trump and China's Xi Jinping are buoying markets more broadly.

Rival digital assets have also seen gains, with Ether rising to almost $2750 and other cryptocurrencies like XRP, Solana, and Monero posting increases.

Bitcoin's surge is building on a recovery that began last week, when the crypto market absorbed the failure of the Clarity Act to establish clearer industry regulation.