Bitcoin Surges to 8-Month High Before Cooling Off at $86K

The cryptocurrency market experienced a wild ride on Monday, with Bitcoin (BTC) surging to an eight-month high of over $87,000 before cooling off at around $86,000.

This massive run came after massive ETF inflows, which rocketed the asset's price. While some had predicted a pullback following such a significant gain, BTC maintained its upward momentum for most of Monday.

XRP (XRP) also made headlines, reclaiming the key $1.50 resistance after a 4% run in the past 24 hours. This development has analysts flipping bullish again, with some major predictions on the horizon.

The total crypto market cap rose by over 3.5% to $2.9 trillion on CMC, with many altcoins registering similar or even more impressive gains. However, not all assets were able to ride the wave, as some notable ones experienced declines.