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Crypto

Bitcoin Surges Past $87,000 Amid Favorable Market Conditions

Guavy AI Editorial Team
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BTC
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Bitcoin (BTC) surged past $87,000 on Monday, marking its strongest gain since Q4 2024. The cryptocurrency rallied nearly 7% to reach an intraday high of $87,397 before closing at $86,593.

The rally was driven by a favorable risk environment and lower oil prices, which eased inflation concerns. According to Pratik Gupta, head of Business at Mudrex, short covering was another factor contributing to the price increase.

Bitcoin ETFs reported substantial inflows on Monday, propelling BTC to an intraday high of $87,397. The inflow streak resumed after a brief period of outflows, with $999 million in inflows recorded on Monday.

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