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Bitcoin hits highest level since January at $86,000, as the market debates whether the 'crypto winter' is over
Bitcoin rose above $86,000 on Monday as the cryptocurrency continued its sharp rally over the past few days.
Bitcoin was trading at $85,863.40, up around 5.8%, according to CoinMetrics. Earlier in the day, the cryptocurrency rose as high as $86,349.90 , its highest level since late Jan. 29.
Investors are assessing whether the "crypto winter" â a depressed period of digital asset prices â which began after bitcoin hit an all-time high of over $126,000 in October 2025, is over.
"I do think it's over, it's crypto spring, the crocuses are blooming," Matt Hougan, CIO at Bitwise, told CNBC's "Squawk Box Europe" on Monday. "I think this will actually be the strongest and longest-running bull market in crypto's history."
Bitcoin news: The last time this happened to BTC, it was 2012
Bitcoin BTC$85,917.01 has posted gains in July and August and looks set to end September higher, marking a three-month winning streak that has occurred only once before in the cryptocurrency’s history.
Bitcoin’s price rose by 4.8% in July and 25.2% in August, according data source CoinDesk. September is also in positive territory, with prices trading 10.9% higher at $86,140 as of this writing.
The only prior such instance dates back to 2012 when prices rose 41.0%, 6.4% and 24.4% in those respective months.
October then broke that streak, with bitcoin falling 9.7% for the month. But the decline bottomed out at $10.17 on Oct. 26, and it was from that low that bitcoin launched into one of the largest rallies in its history, a 165-day run that carried price to $230 by April 2013, a gain of more than 2,000%, according to CoinDesk's analysis of daily price data.
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