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Bitcoin (BTC) spiked above $86,000 after Monday’s Wall Street open as US stocks rose amid cooling oil prices.
Key points:
- Bitcoin gained nearly 6% on Monday to briefly trade above $86,000 for the first time since late January.
- Crypto short liquidations totaled almost $800 million in 24 hours as analysis called the start of a “new bull market.”
- US stocks opened the week higher as WTI oil prices dipped below $92 per barrel.
Bitcoin, US stocks head higher as oil drops further
TradingView data showed Bitcoin hitting a new 33-week high of $86,332 on Bitstamp, up 5.7% on the day at the time of writing.
Upside quickly returned after Sunday’s weekly close, which, at $81,120, was Bitcoin’s highest since the start of May, as oil prices continued a drop from late last week.
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