Live updates: Bitcoin rockets above $83,500 as falling oil lifts risk assets
Bitcoin and other major cryptocurrencies saw significant gains as global risk assets rallied. The market surge was largely attributed to falling oil prices and potential diplomatic developments in the Middle East.
Why it matters
Lower energy costs can reduce inflationary pressures, influencing Federal Reserve policy and broader investor sentiment toward risk-on assets.
Monero's XMR was the standout among larger tokens, up 13% to nearly $588, though it gave back 4% of that in the past hour. DOGE added 5% and XRP 4% to just above $1.45. Ether, SOL and HYPE each rose about 3%, while BNB and ZEC picked up 2%. TRX was the laggard at under 1%.
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