Bitcoin price tags $86K as analysis sees crypto in ‘new bull market’ — SkimNews
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- Bitcoin crossed $86,000 on Bitstamp, hitting a 33-week high of $86,332, up 5.7% on the day, after Sunday's weekly close of $81,120 marked its highest level since early May.
- The Kobeissi Letter declared crypto to be "in a new bull market," citing 50% BTC/USD gains over just two months as short liquidations neared $800 million over 24 hours.
- Bitfinex Alpha flagged buyer support, rising open interest, and fresh inflows to US spot Bitcoin ETFs as requirements to validate further upside, setting a daily close below $77,100 as the invalidation level that would expose the True Market Mean at $76,677.
- Crypto analyst Rekt Capital confirmed BTC/USD broke out of a cycle of lower highs dating to October 2025, identifying a new target trading range of $86,681 to $93,659.
- US equities opened higher with the S&P 500 up 1% and the Nasdaq Composite up 1.6%, as WTI crude dipped to as low as $91.59 per barrel following signals from Qatar's Foreign Ministry and Trump that US-Iran negotiations could resume.
- The New York Times reported that the US plans to extend its trade deal with China by six months ahead of Xi Jinping's September 23-25 visit, a separate macro tailwind cited alongside the oil-driven risk-on move.
Why it matters: Bitcoin's break above $86K triggered nearly $800 million in short liquidations and marks the first technical breakout from a downtrend that capped prices since October 2025, with analysts split on validation — Bitfinex Alpha sets a clear invalidation line at $77,100 while Rekt Capital targets $93,659. The move coincides with cooling oil prices and renewed US-Iran diplomatic signals, amplifying the risk-on rotation across both crypto and equities.
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