Bitcoin ($BTC) spiked above $86,000 after Monday’s Wall Street open as US stocks rose amid cooling oil prices.

Key points:

• Bitcoin gained nearly 6% on Monday to briefly trade above $86,000 for the first time since late January.
• Crypto short liquidations totaled almost $800 million in 24 hours as analysis called the start of a “new bull market.”
• US stocks opened the week higher as WTI oil prices dipped below $92 per barrel.

Bitcoin, US stocks head higher as oil drops further

TradingView data showed Bitcoin hitting a new 33-week high of $86,332 on Bitstamp, up 5.7% on the day at the time of writing.

Upside quickly returned after Sunday’s weekly close, which, at…