Live updates: Bitcoin hits $85,000 as short liquidations hit $300 million in an hour
Crypto majors rise with bitcoin nearing $84,000 as oil slides a fourth day
Bitcoin traded just under $84,000 on Monday, up nearly 2% over 24 hours and extending the climb it began late last week, CoinDesk data show.
Monero's XMR was the standout among larger tokens, up 13% to nearly $588, though it gave back 4% of that in the past hour. DOGE added 5% and XRP 4% to just above $1.45. Ether, SOL and HYPE each rose about 3%, while BNB and ZEC picked up 2%. TRX was the laggard at under 1%.
Risk assets rose broadly. S&P 500 futures were up more than half a percent and Nasdaq 100 contracts nearly 1%, with technology shares leading across regions. Treasuries climbed across the curve and European bonds outperformed. The dollar was flat.
Oil did most of the work. Brent fell for a fourth straight session, its longest losing run in three months, as traders tracked diplomatic efforts to ease tensions between Washington and Tehran and restore Middle East crude shipments. President Donald Trump told Fox News he would "probably" be open to meeting Iranian President Masoud Pezeshkian at the U.N. General Assembly this week.
Cheaper energy eases the inflation picture that has kept the Federal Reserve hawkish, and traders are also positioning ahead of a Trump-Xi summit later this week.