Bitcoin Treads Water Near $85K As Crypto Bulls Return Amid Oil Price Slide

The crypto market is experiencing a rebound as Bitcoin's price climbed to around $85,900 on Monday. This marks a 5.5% increase over the past 24 hours and brings the asset closer to its previous record high.

Crypto-linked stocks such as Strategy (MSTR) and Strive (ASST) also saw significant gains, with MSTR's stock jumping up to 7% in pre-market trade. Its smaller peer ASST was climbing to levels last seen in November, with a 6.5% increase in early morning trade.

The oil market is also experiencing a decline, with Brent crude prices falling for the fourth consecutive session. This drop has contributed to a risk-on backdrop that is fueling the crypto rally.