Bitcoin Nears $85K, Crypto Stocks Rally As Oil Extends Four-Day Slide

The broader crypto market rose about 4% to just below $3 trillion, with XRP, SOL and ETH outperforming Bitcoin.

• Over $700 million in crypto positions were liquidated during the rebound, with short positions accounting for the bulk of the forced selling.
• HYPE jumped about 10% to another record high, while ZEC topped $1,500 and remained in the ‘bullish’ sentiment zone on Stocktwits.
• Oil prices fell for a fourth consecutive session, dipping below the $100 mark.

Bitcoin (BTC) neared $85,000 on Monday, with crypto-linked stocks including Strategy (MSTR) and Strive (ASST) rallying in early morning trade, while oil prices fell for a fourth consecutive day.

Bitcoin’s price climbed about 5.5% over the past 24 hours to around $85,900, extending its rebound from last week's lows and helping lift crypto-linked equities higher. Bitcoin treasury MSTR’s stock jumped as much as 7% in pre-market trade, on track to hit an over 3-month high. Its smaller peer, ASST stock was climbing to levels last seen in November, up 6.5% in early morning trade.

BTC and MSTR were the top trending tickers on Stocktwits at the time of writing. Retail sentiment around both assets improved to ‘neutral’ from ‘bearish’ over the past day, accompanied by chatter at ‘normal’ levels.