Bitcoin · U.S. Treasury · Federal Reserve (FED) · CoinDesk
Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reverses
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Bitcoin zoomed to nearly $87,000 early Monday, within about $500 of its eight-month high.
Key facts
- The Nasdaq 100 closed at a record on Friday, MSCI's Asia Pacific equities index rose 1% and Japan's Nikkei 225 gained 2.5%
- XRP, BNB and ZEC each added between 1% and 2%, while ether and HYPE rose less than 1%
- Bitcoin zoomed to nearly $87,000 early Monday, within about $500 of its eight-month high
- The climb built through Sunday and sped up late in the day, carrying bitcoin past $86,000 to a peak shy of $86,950
Summary
Bitcoin rose 1.5% to above $86,000 as softer U.S. jobs data fueled expectations of lower interest rates and lifted global stocks. Dogecoin led major cryptocurrencies with a gain of more than 3%, while XRP, BNB and ZEC advanced between 1% and 2%. Bitcoin is about $1,300 below its eight-month high near $87,400, a level that could come within reach if the 10-year Treasury yield continues to fall. DOGE led the majors with a gain of more than 3%, to under 10 cents.