[Flash] Bitcoin Holds Above $77,000 as Oil Slide Lifts Asian Equities and Risk Appetite
Bitcoin traded above $77,000 on Monday, CoinDesk reported. Asian equities rose broadly following a roughly 5% drop in oil prices, which boosted risk appetite across global markets.
In a separate development, Nasdaq announced plans to launch Bitcoin options trading, marking another milestone in the mainstream financial system’s adoption of crypto assets. The move is expected to give institutional investors more regulated instruments for crypto portfolio allocation.
Analysts say lower oil prices have helped ease inflation concerns, creating a more favorable macro environment for risk assets. Cryptocurrency markets have recently shown increased correlation with technology stocks.
Source: CoinDesk, The Block