Bitcoin nears eight-month high above $85,000 as markets watch oil and rates
Bitcoin tops $85,000 as lower oil, easing yields and ETF inflows lift prices See why traders are watching ETF demand, Fed bets and the next key breakout zone
Bitcoin climbed above $85,000 on Monday, reaching its highest level since late January. The move came as traders focused on lower oil prices, easing bond yields, and shifting expectations for US monetary policy.
The rally lifted crypto markets broadly and triggered a large wave of short liquidations. Analysts said Bitcoin is now approaching a key area near the breakeven level for US spot Bitcoin ETF investors, estimated at about $85,638.
Market attention also remains on macro conditions, including possible USIran diplomatic talks, oil supply concerns, and the outlook for additional Federal Reserve rate hikes later this year. At the same time, ETF inflows remained strong, with Fidelity’s Bitcoin fund drawing a larger share of recent demand than BlackRock’s flagship product.