Bitcoin Surges Above $85,000 for First Time Since January

Bitcoin has briefly surged above $85,000 for the first time since January. The rally comes amid improving macro conditions and stronger institutional demand. According to CoinDCX, Bitcoin went from around $82,000 to above $85,000 in a few hours.

The increase was driven by a combination of factors, including falling oil prices and easing long-term Treasury yields. This has reduced inflation and liquidity pressures on crypto markets.

Rajagopal Menon, Vice President at WazirX, noted that investors have bought the dip after prices fell toward $76,000.