Bitcoin Surges Past $75K Amid Oil Price Decline

Bitcoin's price surged to $74,500 on Monday morning in US trading, marking its highest level since early February and a nearly 25% recovery from its February low of $60,000.

The gain comes as oil prices pulled back after briefly surpassing $100 per barrel over the weekend due to concerns about the Strait of Hormuz. Crude futures dropped around 4% on Monday.

Analysts at QCP Capital noted that Bitcoin has held up better than most traditional assets during recent geopolitical stress, and USDC supply reached a record $81.1 billion, suggesting fresh capital is entering crypto markets.