BTC Surges Past $86K Threshold as Experts Declare 'New Bull Market' Phase
For the first time in months since late January, Bitcoin surpassed the $86,000 threshold, buoyed by declining crude oil costs and supply worries that boosted American equity markets.
Following the opening bell on Wall Street Monday, Bitcoin (BTC) jumped beyond the $86,000 threshold as American equities climbed higher alongside declining petroleum prices.
Key points:
- On Monday, Bitcoin climbed approximately 6%, momentarily surpassing $86,000 - a level not witnessed since the final days of January.
- Short position liquidations across cryptocurrency markets reached nearly $800 million within a 24-hour period as market observers proclaimed the beginning of a "new bull market."
- American stock markets kicked off the week with gains while WTI crude petroleum prices fell beneath the $92 per barrel threshold.
Bitcoin and American equities climb as petroleum prices decline further
According to TradingView data, Bitcoin reached a fresh 33-week peak of $86,332 on the Bitstamp exchange, representing a 5.7% increase at the time of reporting.
The upward momentum resumed swiftly following Sunday's weekly closing price of $81,120, which marked Bitcoin's strongest weekly close since early May, while petroleum prices extended their decline that began in the latter part of last week.
Indications from Qatar's Foreign Ministry alongside US President Donald Trump suggesting that diplomatic talks aimed at ending the US-Iran conflict might restart contributed to pushing WTI crude petroleum down to $91.59 per barrel during Monday trading.
"Middle East oil flows remain surprisingly strong despite the disruption to Saudi Arabia's East-West pipeline," JPMorgan analysts said in a note on Friday, quoted by CNBC and others.
Additionally, The New York Times published a report asserting that the United States intended to prolong its commercial agreement with China for an additional six months in advance of Chinese President Xi Jinping's scheduled visit on Sept. 23-25.
At the time of reporting, the S&P 500 and the technology-focused Nasdaq Composite Index had risen 1% and 1.6%, respectively.
Cryptocurrency short position liquidations approach $800 million within 24 hours
The substantial gains registered by Bitcoin sparked progressively bullish analysis regarding its extended-term price momentum.
The Kobeissi Letter, a trading intelligence resource, characterized the cryptocurrency market as being "in a new bull market" in its most recent X platform analysis. Kobeissi highlighted 50% appreciation for BTC/USD across merely two months while short position liquidations throughout the crypto sector approached $800 million during a 24-hour span.
Regarding Bitcoin's near-term trajectory, Bitfinex Alpha, the analytical division of cryptocurrency exchange Bitfinex, identified purchasing support from buyers, increasing open interest levels, and renewed capital flows into US spot Bitcoin exchange-traded funds (ETFs) as three critical conditions necessary for sustained upward price movement.
"For a breakout to be validated, we would want to see net taker buying rather than the profit-taking that capped the advances on 18 and 19 September," it noted in a Monday blog post, adding:
"Coin-denominated open interest would also need to expand, indicating fresh positioning rather than a move driven primarily by short covering. Conversely, a daily close beneath $77,100 invalidates the structure to the downside, exposing the True Market Mean at $76,677."
Separately, Rekt Capital, a cryptocurrency trader and market analyst, verified that BTC/USD had successfully escaped a pattern of successively lower peaks that had persisted since October 2025, thereby breaking free from its previous macro bearish trend. Through his latest analysis shared on X, he pinpointed a new target price corridor spanning between $86,681 and $93,659.
"If Bitcoin is ready to confirm a breakout from the $60k-$80k Range, its next milestone would be to try to enter the blue-blue Range," he wrote in commentary on a chart highlighting the range, which figured prominently at the end of 2025.
