Bitcoin
Bitcoin Surpasses $85,000 as Market Momentum Lifts Crypto and Tech Equities
Bitcoin climbed beyond $85,000 on widespread market momentum, driven by massive short liquidations and rallying technology equities.
Bitcoin rose more than 5% over 24 hours to cross $85,000 and approach $86,000 on Monday, marking its highest price since late January.
The upward move coincided with over $750 million in total crypto liquidations, including approximately $648 million in short positions, according to CoinGlass data cited by The Block. The rally also lifted Bitcoin above the average acquisition cost for US spot Bitcoin ETF investors for the first time since January.
Broader financial markets also advanced, supported by a rally in artificial intelligence equities and falling energy prices. Semiconductor firm AMD joined the $1 trillion valuation threshold after a 10% gain, while domestic crude and Brent oil prices dropped 4.8% and 3.6%, respectively.
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