Bitcoin and Ethereum surge as oil prices drop and crypto markets rebound
Crypto markets showed signs of recovery overnight as Bitcoin climbed above $77,400 and Ethereum reached $2,128. The rebound followed a drop in oil prices, which boosted investor confidence. Meanwhile, a major exploit on the Monad blockchain raised concerns, though losses were limited. Bitcoin and Ethereum led the market rebound, with Bitcoin trading at $77,400 and Ethereum at $2,128. Solana also gained, rising to $84. The shift came as oil prices fell, with WTI crude dropping 2.1% to $101.72 and Brent declining 2.2% to $104.30.
Elsewhere, the Echo Protocol suffered a $76 million exploit on its Monad blockchain deployment. However, the actual loss was far smaller—around $816,000—due to quick intervention. The incident highlighted ongoing security risks in decentralised finance. In other developments, Polymarket introduced private company prediction markets in partnership with Nasdaq. The move allows retail traders to bet on startup milestones, expanding access to speculative trading. Attention also turned to Nvidia’s upcoming earnings report, which analysts say could influence crypto prices later in the day. Among individual tokens, HYPE surged 5% to $49.80, extending its weekly gains to 27%.
The overnight rebound pushed major cryptocurrencies higher, while oil’s decline supported broader risk appetite. The Echo Protocol exploit, though contained, served as a reminder of vulnerabilities in blockchain systems. With Nvidia’s earnings on the horizon, traders are watching for potential market-moving effects.
