Bitcoin rose as high as roughly $85,117, extending its recovery to about 30% since Aug. 19, as Brent crude fell around 2% toward $102 a barrel. Stronger Saudi exports and hopes for U.S.-Iran diplomacy reduced some of the geopolitical premium in energy prices. Lower oil can ease inflation concerns, pull Treasury yields lower and improve appetite for risk assets, making it an important macroeconomic tailwind for Bitcoin, though not the sole driver of the rally. The relationship had recently worked in reverse: Brent’s move toward $108 earlier this month revived inflation fears, lifted bond yields and pressured technology stocks and Bitcoin. Reuters said Monday’s crude decline helped Treasury prices recover and yields ease, while Nasdaq futures and other risk assets advanced. Bitcoin’s rebound is notable because the Federal Reserve has just raised interest rates by a quarter point. The cryptocurrency fell below $75,000 during last week’s regulatory and macro turmoil before recovering above $80,000. IG analyst Chris Beauchamp told the Wall Street Journal that falling oil could make higher U.S. rates easier for markets to absorb. Renewed spot Bitcoin ETF buying and short covering also supported the move. U.S. spot Bitcoin ETFs attracted $324.6 million on Sept. 18, following $159.5 million the previous day and reversing two sessions with roughly $746 million of combined outflows. Bitcoin has since moved beyond the $82,000 resistance zone that limited the earlier rebound.