Bitcoin has crossed $86,000 for the first time since late January, reaching around $86,332 as the broader risk market strengthened.
This came alongside a decline in oil prices, with Brent crude falling for a fourth straight session as markets watched developments around Middle East supply and possible diplomatic progress.
U.S. stocks also opened higher, with the S&P 500 and Nasdaq gaining as lower energy prices eased some inflation pressure.
Crypto markets also received an extra boost from heavy short liquidations. More than $750 million in crypto positions were liquidated within 24 hours, with the majority coming from short positions, adding forced buying to Bitcoin’s advance.
$BTC has now recovered above the average cost basis of U.S. spot Bitcoin ETF investors, while Strategy also added 950 BTC last week for about $75.7 million.
#Bitcoin Price Prediction: What is Bitcoins next move?# #BTC Price Analysis#
This came alongside a decline in oil prices, with Brent crude falling for a fourth straight session as markets watched developments around Middle East supply and possible diplomatic progress.
U.S. stocks also opened higher, with the S&P 500 and Nasdaq gaining as lower energy prices eased some inflation pressure.
Crypto markets also received an extra boost from heavy short liquidations. More than $750 million in crypto positions were liquidated within 24 hours, with the majority coming from short positions, adding forced buying to Bitcoin’s advance.
$BTC has now recovered above the average cost basis of U.S. spot Bitcoin ETF investors, while Strategy also added 950 BTC last week for about $75.7 million.
#Bitcoin Price Prediction: What is Bitcoins next move?# #BTC Price Analysis#