Morning Minute: Bitcoin Hits $86,000 as Oil Slides and ETFs Bid
Bitcoin surged past $86,500, up about 14% for the week, lifting total crypto market cap above $3 trillion. Spot Bitcoin ETFs brought in $999 million in a single day, and most major coins were green over the past seven days. ETH rose to $2,750, SOL to $120, and several tokens and CryptoPunks hit new highs. Traditional markets also rallied: the Nasdaq set a record close, led by strong gains in Intel and AMD, while chip stocks extended a winning streak. Oil prices fell sharply, with Brent and WTI dropping to multiweek lows amid reports of possible easing in Middle East tensions and pipeline restart efforts. The broader crypto backdrop is framed as increasingly bullish, with regulatory clarity from the SEC and CFTC, growing tokenization activity, and strong institutional demand through ETFs and corporate treasuries.
