Bitcoin Price Surges Past $85,000
Bitcoin surged above $86,000 on Monday, hitting $86,349 at its intraday peak, its highest level since January 29, as falling oil prices, rising US stocks, a massive short squeeze and a close above a key 50-week moving average combined to extend what is now a 34 percent three-month rally.
The move came against considerable headwinds. The Federal Reserve raised interest rates last Tuesday. The Senate blocked the CLARITY Act, landmark crypto regulation, just days before the rally accelerated.
Bitcoin dipped below $76,000 after those developments before recovering sharply. By Monday's close it had gained more than 6 percent, triggering approximately $800 million in short liquidations over 24 hours that further amplified the move.
The rally also marked the first time Bitcoin closed above its 50-week moving average in 45 weeks, a threshold that has historically signaled bull markets. Bitwise CIO Matt Hougan called it flatly: "I think the crypto winter is over. It's crypto spring, the crocuses are blooming. I think this will actually be the strongest and longest-running bull market in crypto's history."
Bitcoin is still down 48 percent from its all-time high of $126,198 set in October 2025. The path back there is long. But the direction Monday was not ambiguous.
