The price of Bitcoin touched $86,000, with analysts saying that cryptocurrency enters the new bull market .

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After Monday's opening on Wall Street, the price of Bitcoin ( BTC ) broke through $86,000 to reach its highest level since late January. The rally was closely linked with stronger U.S. stocks and continued declines in international oil prices.

Oil price decline pushes risky asset groups higher

According to TradingView, the Bitcoin reached a high of $86,332 on trading day at Bitstamp , setting a new 33-week high and up about 5.7% for the day. The previous Sunday's closing price was $81,120, its highest since early May.

The macroeconomic background to the rise is a continuing decline in international oil prices since last week. Qatar's Ministry of Foreign Affairs and United States both released signals for possible resumption of diplomatic negotiations on the US-Iran conflict, pushing WTI crude to its lowest Monday at $91.59 per barrel. JPMorgan analysts noted in their report Friday that Middle East oil supplies remained robust despite disruptions to Saudi Arabian pipelines.

In addition, the New York Times reported that United States plans to extend its trade agreement with China by six months ahead of a September 23-25 visit by Chinese leaders.

Bankruptcy settlement of nearly $800 million, positive after-market structure

The strong performance of Bitcoin led to an uptick in market sentiment. Trading analyst firm The Kobeissi Letter stated on the X platform that the crypto market has entered a new round with bull market rising by about 50% in just two months, while cryptocurrency cleared nearly $800 million total within 24 hours.

For short-term trends, the research arm of Bitfinex Alpha put forward three key conditions in its blog on Monday: buyers' support; an increase in outstanding contracts; and new capital inflows. The report argues that if a breakthrough is to be confirmed it would need to see active buying rather than profits, while outstanding positions priced at par value should also expand, indicating that they are driven by newly added positions instead of primarily upside reversals. It also suggests that structural failure could occur if the day line closes below $77,100, with the next step being a stepping back to the True Market Mean position of $76,677.

Analysts confirm breach of downtrend line

Trader and analyst Rekt Capital noted that BTC has broken the cyclical pattern of gradual declines from highs formed since October 2025, indicating a reversal in macroeconomic downtrends. In his latest analysis, he set the next target range between $86,681 and $93,659, saying that if Bitcoin is confirmed to break out of the $60,000-$80,000 range, the next stop will challenge higher ranges which had been active at the end of 2025.[3]