Bitcoin, the world’s largest cryptocurrency by market capitalisation, rose above $85,000 on Monday, reaching its highest level in eight months.
The cryptocurrency climbed to about $85,117 during trading
on Monday, according to data from coinmarketcap.com, extending its recent
recovery.
The rally puts bitcoin at its highest level since January
and comes despite the US federal reserve’s decision last week to raise its
benchmark interest rate by 25 basis points to a range of 3.75 percent to 4
percent.
Ethereum, the second-largest cryptocurrency by market
capitalisation, also gained alongside bitcoin, growing by 5.81 percent to
$2,721.
CoinMarketCap said the global cryptocurrency market cap rose
5.1 percent to $2.88 trillion and recorded over $106.24 billion as at 12:30 pm.
The latest rally follows a series of regulatory developments
in the US, including the Securities and Exchange Commission’s (SEC) temporary
five-year “innovation exemption” for certain platforms to facilitate limited
on-chain trading of tokenised US stocks.
The SEC said the exemption allows qualifying tokenised
securities venues to trade certain national market system stocks through
permissioned automated market makers and liquidity pools, subject to conditions
including limits on the number of stocks and trading volume.
Bitcoin has experienced sharp swings over the past year. On
October 10, 2025, the cryptocurrency fell 8.4 percent to $104,782 after US
President Donald Trump announced plans to impose 100 percent tariffs on Chinese
exports and export controls on critical software.
The move triggered a broad sell-off in crypto assets and
large-scale liquidations.
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