Bitcoin, the world’s largest cryptocurrency by market capitalisation, climbed above $85,000 on Monday, reaching its highest level in eight months.
Gatekeepers News reports that the cryptocurrency rose to about $85,117 during trading, according to CoinMarketCap data, extending a recovery that has seen it rebound strongly in recent weeks.
The latest rise represents Bitcoin’s highest trading level since January and came despite the US Federal Reserve raising its benchmark interest rate by 25 basis points last week to a range of 3.75 percent to four percent.
The broader cryptocurrency market also recorded gains. Ethereum, the second-largest cryptocurrency by market capitalisation, rose 5.81 percent to $2,721, while the global crypto market capitalisation increased by 5.1 percent to $2.88 trillion as of 12:30pm.
The recovery has been supported by stronger inflows into US spot Bitcoin exchange-traded funds, regulatory developments and improved appetite for riskier assets. Analysts also pointed to the closing of bearish positions as another factor behind the latest increase.
The rally followed renewed regulatory developments in the US, including a temporary five-year exemption granted by the Securities and Exchange Commission for certain platforms to facilitate limited on-chain trading of tokenised US stocks.
Bitcoin had experienced significant volatility over the past year, including a sharp decline in October 2025 following an announcement by US President Donald Trump on tariffs and export controls involving China.
