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Bitcoin climbed above $85,000 on Monday, extending last week’s rally and reaching its highest level since January. The advance was underpinned by improving broader market sentiment, a continued slide in oil prices, regulatory developments, and renewed institutional buying.
On the regulatory front, the US Securities and Exchange Commission granted a five-year exemption to platforms that enable trading in tokenised stocks and other securities via blockchain technology. This move came even as the US Senate voted last week to block the Clarity Act from moving forward. The proposed legislation is intended to create a comprehensive regulatory framework for digital assets.
Traders are also closely watching this week’s summit between US President Donald Trump and Chinese President Xi Jinping, with markets seeking any indication of progress toward easing trade tensions.
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Investor demand for Bitcoin has strengthened in parallel. US spot Bitcoin ETFs saw net inflows of $433 million on 18 September, driven primarily by funds managed by Fidelity and BlackRock.
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