Bitcoin (BTC-USD) is back. The token held above $86,000 on Tuesday after a stunning multi-session rally as investors went risk-on amid falling oil prices.

The surge has analysts pointing to the end of the token’s cyclical “crypto winter.”

“The BTC breakout is credible,” Sean Farrell, head of digital assets, told Yahoo Finance on Monday. “I think the crypto winter is over, although that does not necessarily mean the path higher will be linear.”

For now, momentum is on crypto’s side, with bitcoin jumping more than 5% on Friday and another 6% on Monday.

“We believe crypto is in the early innings of a new bull market and we see few signs of overheating,” wrote Compass Point analyst Ed…