Bitcoin is back above $84,000, shrugging off big ETF outflows last week as oil prices slip.
As of this writing, the leading cryptocurrency by market value traded near $84,050, according to CoinDesk, after slipping to around $83,500 earlier Monday. That is close to Sunday’s high of around $84,145. Other major currencies such as ether and XRP (XRP) were bid, with signs of growing investor interest in tokens other than bitcoin and ether.
“The recovery broadened across major virtual digital assets, with nine of the top ten advancing during the last 24 hours. Avalanche led with a 5.1% jump to $10.91 and Chainlink rose 2.4% to $13.35. Solana added 1.2%, while BNB, XRP, Dogecoin and cardano gained,” Purvang Mashru, lead analyst at BitDelta India, told CoinDesk.
WTI futures began the new week on a soft note, falling 1.8% to $90.28 and reversing the spike on Thursday that injected fresh uncertainty into the market.
The latest decline in fuel prices follows President Donald Trump’s Friday announcement that his administration reached an agreement for Russia to supply 300,000 metric tons of diesel fuel to international and domestic markets. This move marks a partial easing of U.S. sanctions on Russian oil imports.
While Trump also claimed that Russia and Ukraine had agreed to an immediate “energy ceasefire” to halt infrastructure strikes, Ukrainian officials stated they were not consulted, and Russian military strikes on Ukraine’s energy grid have since continued.
-listed spot bitcoin exchange-traded funds (ETFs) registered an outflow of $681 million, the highest since June, according to data source SoSoValue.
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