Bitcoin reclaimed $85,000 as falling oil prices and lower Treasury yields fueled a cross-asset risk-on rally, though market volatility remains high as traders weigh the durability of the macro shift.
Bitcoin reclaimed the $85,000 level for the first time in eight months, reaching its highest since January, though it faced a minor intraday correction.
Brent crude fell back below $100 per barrel from above $109 on signs of de-escalation, easing inflation concerns.
The S&P 500 rose 1.5% in the same session, reflecting a cross-asset risk-on move.
The Nasdaq Composite gained 2.1%, outperforming the broader market as risk appetite recovered.
Bitcoin surged past $85,000 for the first time in eight months, tracking a broader market rally as Brent crude prices retreated below $100. The move reflects a recovery in risk appetite, with the S&P 500 and Nasdaq gaining 1.5% and 2.1% respectively, as easing geopolitical tensions lowered Treasury yields.
Bitcoin acts as a risk-on asset; when oil prices spike, they fuel inflation concerns, leading to higher Treasury yields and reduced appetite for speculative assets like crypto.
It remains uncertain; while the move reflects a recovery in risk appetite, it is currently tied to a single session of macro relief rather than a confirmed shift in the long-term inflation cycle.