Bitcoin climbed above $82,500 during Asian trading on Monday, October 19, as falling oil prices and stronger U.S. stock futures fueled a cryptocurrency recovery, Reuters reported.
Bitcoin traded at $82,654, up around 2%, while Ether gained 3% to $2,420.
Important Read: Bitcoin Rebounds to $82,000 After Brief Drop Below $80,000 as Asian Stocks Recover
Oil and Treasury Yields Retreat
Brent crude futures fell 1.8% to $107.83 a barrel, while U.S. crude declined 1.2% to $100.20. S&P 500 futures rose 0.8%, and Nasdaq futures advanced 1.3%, The Wall Street Journal reported.
The U.S. 10-year Treasury yield fell four basis points to about 5.05%, Reuters’ updated market report said. This extended a bond rally after its largest weekly decline in more than eight months.
Oil prices fall following signals that Washington could ease sanctions on Russia, potentially increasing supply.
However, uncertainty still looms over the decision, while shipping disruptions in the Strait of Hormuz continued to cloud the energy outlook.
Asian Stocks Signal Caution
The rebound was uneven across markets.
Japan’s Nikkei fell 0.7%, Taiwan’s benchmark lost 1.1%, and MSCI’s broad Asia-Pacific index outside Japan slipped 0.2%, Reuters reported.
Investors raised concerns over the cost of financing artificial intelligence infrastructure and whether future revenue would justify that spending.
Together, these moves suggest a mixed backdrop for Bitcoin’s recovery, with stronger U.S. futures accompanied by continued caution in Asian equities.
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