Bitcoin Reaches Its Highest Level Since January as Crude Sinks 8%

Crypto Insight Summary: Bitcoin traded as high as $86,355 on Coinbase, its best level since Jan. 29, in a leg that started in the 8 a.m. UTC hour and extended through the U.S. open. West Texas Intermediate crude fell 8.1% and the Nasdaq Composite rose 1.6%. Perpetual funding sits near zero and the bitcoin and ether swaps Crypto Insight Analysis: Direction: Bullish BTC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Oil price drop and stock market rise boost BTC as alternative asset.