Bitcoin jumps to an 8-month high, surpassing $85,000

Bitcoin jumped to an eight-month high on September 21, as an overall improvement in risk sentiment helped extend the rally that began last week. UNN reports this, citing Bloomberg.

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At the start of morning trading in New York, the original cryptocurrency jumped 5.1% to $85,222.

The rally is taking place amid gains in stocks and bonds, as falling oil prices and optimism ahead of the summit between U.S. President Donald Trump and Chinese President Xi Jinping support markets overall.

Oil prices fell to an 11-day low — what contributed21.09.26, 13:40 • 1566 views

Rival digital assets also jumped. Ether, the second-largest token, rose more than 4.3% to $2,747, while other cryptocurrencies, including XRP, Solana, and Monero, also posted gains.

"Financial markets have once again regained their appetite for risk after being consumed by concerns about government bond yields, huge debt obligations, and the prospect of a return to tighter policy by the world's most influential central bank," said Chris Beauchamp, chief market analyst at investment and trading platform IG.

Bitcoin's rise continues the climb that began late last week, when cryptocurrencies weathered the failure of the landmark Clarity Act in the United States, aimed at providing a clearer understanding of industry regulation, as well as the Federal Reserve's first interest-rate hike in three years. The Securities and Exchange Commission's (SEC) authorization on Thursday to begin trading digital versions of securities in the United States helped improve sentiment.