Breaking: Bitcoin hits $85,000 for the first time in eight months
Source Fxstreet
- Bitcoin is up nearly 5% on Monday, hitting an eight-month record high above $85,000.
- Momentum indicators show renewed upside pressure, with the MACD signaling a bullish crossover and the Golden Cross pattern strengthening.
- The technical outlook for Bitcoin is bullish, with the next prominent target around $90,000.
Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.
The technical outlook for BTC is bullish, with Moving Average Convergence Divergence (MACD) crossing above its signal line, suggesting renewed upside pressure. Bitcoin could extend the recovery toward the $90,000 mark if the uptrend sustains.
This is breaking news and will be updated as the story develops.
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