Bitcoin Surges Past $85K Amid Renewed Cryptocurrency Market Momentum

A renewed upswing in the cryptocurrency market saw Bitcoin and other leading digital tokens gain strength late Monday, pushing the total global crypto market capitalization to nearly $2.7 trillion. Market data revealed Bitcoin (BTC/USD) had climbed above the $85,000 benchmark.
The CoinDesk Market Index, which tracks a diverse range of cryptocurrencies including Bitcoin, recorded a 0.2% uptick over the past 24 hours. In tandem, Wall Street indices also ended in positive territory, with the Nasdaq 100 gaining 0.6%, the S&P 500 rising 0.8%, and the Dow Jones Industrial Average also closing 0.8% higher.
As per CoinMarketCap figures, Bitcoin rose by 1.4% to hit $84,936. The flagship cryptocurrency witnessed a significant increase in its 24-hour trading volume, which jumped 30.4% to $35.48 billion. Ethereum (ETH/USD), the second-largest cryptocurrency by market capitalization, appreciated by 3.1% to $1,637. Other altcoins such as XRP (XRP/USD) and BNB (BNB/USD) rose by 1.4% and 1% respectively, while Solana (SOL/USD) saw a robust gain of 2.5%.
Conversely, Dogecoin (DOGE/USD) dropped by 1.6% and Cardano (ADA/USD) slipped by 0.3%. On the fixed-income side, the yield on the U.S. 10-year Treasury declined to 4.362% on Monday from 4.490% last Friday, with the five-year Treasury yield also falling to 4.000% from 4.154%.
The cryptocurrency sector’s overall market value climbed 1.7% over the past day to settle at $2.69 trillion, with trading volumes swelling 31.7% to reach $93.76 billion.
CoinMarketCap reported that the total global crypto market cap stood at $2.68 trillion as of Monday, marking a 0.71% daily increase. Trading volume across the market rose to $91.74 billion — up 23.25% in the past 24 hours.
DeFi (Decentralized Finance) activity contributed $8.95 billion, representing 9.75% of total 24-hour crypto trading volume. Stablecoins dominated trading activity, contributing $85.54 billion — or 93.24% — of total daily volume.