Bitcoin hits eight-month high

Financial websites appear to agree that the ‘crypto winter’ is (probably) over and that a ‘crypto spring’ can begin again now that the largest digital currency on Monday once again reached the $85.000 level and several altcoins rose even faster.

ETFs

Wall Street was led on Monday by gains in AI stocks. Oil prices fell more than 3% to their lowest level in eleven days, amid hopes of progress in Middle East negotiations at the UN meeting later this week. On the crypto market, the highlight was above all Bitcoin’s steady rise above $85.000.

Bitcoin reached this price after weeks of sustained strength. The largest cryptocurrency had earlier broken through the $80.000 threshold, driven by a combination of short squeezes and a steady inflow of capital into US spot Bitcoin ETFs, which are adding extra buying pressure.

Analysts are therefore focusing on two key groups. The first consists of long-term holders: investors who have held their Bitcoin for a long time without making transactions. Historically, these holders regularly take profits when the price returns to levels that previously coincided with market tops.

In addition, market watchers are closely monitoring institutional investors seeking exposure to the crypto market via spot Bitcoin ETFs. If that capital inflow holds up, demand can absorb the supply from profit-taking long-term holders without major price shocks. If inflows stall or turn into outflows, however, a key support pillar under the market could fall away.

From now on, analysts are focusing on the psychologically important $100.000 level. If it can be reached before the end of the year, Bitcoin will close 2026 with a modest gain and we can conclude that a new bull run can begin.