Crypto
BTC Price Nears Eight-Month High Above $85K Amid Oil Price Dip
Bitcoin has surged to nearly eight-month highs above $85K as bulls propel the market upward. The price reached $85,248 on Monday, its highest level since January 29.
The move higher is approaching the breakeven point for US spot Bitcoin ETF investors near $86,000. This marks a significant milestone for these investors, who have been waiting for the price to reach this level.
Despite the surge in oil prices above $100 per barrel last week, WTI crude oil traded below $94 on Monday amid hopes of fresh diplomatic efforts to resolve the situation in the Middle East. The drop in oil prices has led to a decrease in inflation expectations for the remainder of 2026.