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Business Insider

It's crypto spring': 4 reasons bitcoin is surging above $85,000

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It's crypto spring': 4 reasons bitcoin is surging above $85,000
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Bitcoin is back above $85,000 after months of weakness, adding about 5% on Monday and topping the level for the first time since late January, when the sell-off accelerated. Investors and crypto managers cited renewed demand from both digital-asset buyers and spot flows into exchange-traded products as evidence a longer-term uptrend may be returning. The rebound follows a cycle low around the $58,000 area in late June. Reported tailwinds include regulatory optimism after the SEC authorized limited trading of tokenized shares for five years, plus CFTC plans for crypto market rules and rising retail and institutional interest, including spot bitcoin ETF inflows of $593 million over Thursday and Friday.

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