Bitcoin (CRYPTO: BTC) surged above $85,000 for the first time in nine months Monday, liquidating over $400 million in leveraged shorts.
What Triggered the Rally
The Kobeissi Letter posted on X Monday that the shorts got wiped out in just four hours, a classic squeeze accelerating an already strong move.
U.S. spot Bitcoin ETFs added to the momentum, pulling in $593 million over Thursday and Friday alone last week to fully reverse earlier weekly outflows and close the week with a modest net inflow according to SoSoValue.
CoinDesk reported Monday that oil helped fuel the move, with Brent crude falling for a fourth straight session, its longest losing streak in three months, as diplomatic signals between Washington and Tehran pointed toward easing tensions.
Meanwhile, Donald Trump told Fox News he would “probably” meet Iranian President Masoud Pezeshkian at this week’s UN General Assembly.
How Crypto-Linked Stocks Reacted
Crypto equities rallied alongside the token rally Monday:
| Company | Ticker | Move |
| Strategy | (NASDAQ:MSTR) | +6% |
| Strive Asset Management | (NASDAQ:ASST) | +6% |
| MARA Holdings | (NASDAQ:MARA) | +6% |
| Bullish | (NYSE:BLSH) | +5% |
| Coinbase | (NASDAQ:COIN) | +5% |
| Robinhood | (NASDAQ:HOOD) | +4% |
BTC, ETH, XRP Price Analysis: Key Levels to Watch
Bitcoin breaks decisively out of its descending triangle Monday, surging to $84,220 and touching $85,257 intraday, its highest level since the September 3 high near $82,700.
RSI at 70.19 marks its strongest reading since early September, confirming genuine momentum rather than a weak retest.
- Resistance: $85,257 (fresh territory)
- Support: $81,000 (breakout retest), $75,559 (SAR)
XRP (CRYPTO: XRP) jumps 5.5%, clearing the symmetrical triangle that compressed price for five weeks. The entire EMA stack now sits below price as support.
- Resistance: $1.55 to $1.56 (August supply zone)
- Support: $1.37 (20-day EMA)
Ethereum (CRYPTO: ETH) climbs 2.5% to $2,714, clearing both the 0.618 Fibonacci retracement of its October 2025 to January 2026 decline and its long descending trendline from the $3,396 high in the same move.
- Resistance: $2,990 (0.786 Fib)
- Support: $2,672 (breakout retest)
Photo via Shutterstock
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