Live updates: Bitcoin rockets above $83,500 as falling oil lifts risk assets

Crypto markets rose on Monday, with Monero up 13%, as equity futures also gained. This came as oil prices fell for a fourth straight session, with Brent crude down nearly 1% to $103 per barrel at the end of last week, according to City AM. The drop in oil prices was attributed to suggestions that disruptions to Saudi Arabian oil pipelines from Houthi attacks would be less severe than initially thought.

The decline in oil prices helped ease fears about inflation and reduced government bond yields, which had risen to multi-year highs. This also had a positive impact on risk assets, including cryptocurrencies and equities. The US Federal Reserve had raised interest rates last week, while the Bank of England kept its rates steady but hinted at a possible hike in the near future.

Bitcoin's price rose above $83,500, although the exact timing and previous price are not specified in the reports. The cryptocurrency market's gains were accompanied by a expected decline in the UK's FTSE 100 index, which had suffered heavy losses on Friday.

Brief written by urgent.news from CoinDesk, City AM — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.