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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