Top Reasons Why Bitcoin Price Is Going Up Today

Bitcoin has climbed to $86,098.82, up 6.5% over 24 hours and 9.7% over the past week, hitting its highest level in eight months. Over the past three months alone, Bitcoin is up 49%, adding $568 billion to its market cap in that stretch.

Falling Oil Prices Are Fueling A Broader Risk-On Move

Oil has dropped to around $97 a barrel after CENTCOM reported that more oil is now flowing through the Strait of Hormuz than six months ago, even amid continued Houthi attacks on Saudi Arabia. Market strategist Gareth Soloway called this a “double positive” for risk assets: falling oil tends to bring bond yields down with it, and lower yields typically support both stocks and crypto simultaneously.

A Hawkish Fed Is Actually Helping, Not Hurting

Last week’s Fed decision initially spooked markets, sending stocks briefly into neutral territory. But according to Soloway, a genuinely hawkish Fed signals officials are serious about controlling inflation, which paradoxically can pull down long-end Treasury yields as investors regain confidence in US fiscal management and accept lower rates in return. That thesis played out by Thursday and Friday, when markets rallied sharply following the initial dip.

Bitcoin Just Confirmed A Higher High