Bitcoin climbed to $86,355 on Coinbase, marking its highest level since Jan. 29, according to The Defiant. The move began during the 8 a.m. UTC hour and continued into the U.S. market open. At the same time, West Texas Intermediate crude fell 8.1%, while the Nasdaq Composite gained 1.6%, placing crypto strength alongside a sharp decline in oil and a rise in equities. Derivatives positioning appeared restrained rather than overheated: perpetual funding was near zero, and both bitcoin and ether swaps traded below index. Market breadth was broadly positive as well, with 106 of the 125 largest non-stablecoin tokens trading higher. The snapshot points to a session in which bitcoin reached a multi-month high without the kind of elevated funding often associated with aggressive leverage.
Bitcoin traded as high as $86,355 on Coinbase, its best level since Jan. 29, according to The Defiant. The move started in the 8 a.m. UTC hour and extended through the U.S. open.
At the same time, West Texas Intermediate crude fell 8.1%, while the Nasdaq Composite rose 1.6%.
Derivatives and market breadth
Perpetual funding was near zero, and bitcoin and ether swaps traded below index.
Among the 125 largest non-stablecoin tokens, 106 were higher.
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