Bitcoin surged past $86,000, its highest since January, as analysts label the move the start of a new crypto bull market.
Bitcoin rose nearly 6% on Monday, briefly trading above $86,000—the first time since late January—and hit a 33‑week high of $86,332 on Bitstamp, according to TradingView data. The rally coincided with U.S. stocks gaining and WTI crude oil slipping below $92 per barrel.
Crypto short liquidations approached $800 million in a 24‑hour period. The Kobeissi Letter described the market as being “in a new bull market,” noting a 50% gain for BTC/USD over two months. Bitfinex Alpha pointed to buyer support, rising open interest, and fresh capital inflows to U.S. spot Bitcoin ETFs as key for further upside, and said a daily close below $77,100 would invalidate the bullish structure.
Rekt Capital observed that BTC/USD broke a cycle of lower highs dating to October 2025 and identified a new target trading range of $86,681 to $93,659, suggesting a potential breakout from the $60k‑$80k range.
Future price direction remains uncertain and will depend on whether the cited support factors materialize and the breakout criteria are met.