Bitcoin Nears $85K, MSTR, ASST Stocks Rally As Crypto Bulls Return Amid Easing Oil Prices

NEAR Protocol surged 5.83% in 24 hours, outperforming the broader altcoin market, driven by specific product updates, integrations, and narrative shifts. Key drivers include Robinhood Crypto Chain integration, NEAR Intents expansion, and discussions around tokenomics and ETF listings. The rally is attributed to asset-specific news rather than market-wide trends, with social sentiment also playing a role.

Singapore's Monetary Authority (MAS) claims no jurisdiction over Hyperliquid, a decentralized trading platform headquartered in Singapore. Hyperliquid confirms it is unregulated and not licensed by MAS. The platform reported $730.5M in revenue and $723.7M in net income over the past year, with significant trading volume. Hyperliquid is expanding its markets through HIP-3, its deployer-based perpetual futures system.

Binance's Bitcoin reserves dropped by 41,700 BTC (5.9%) from September 20 to October 5, 2026, according to CryptoQuant data. Despite the outflow, Bitcoin's price fell 2.5% to $83,400 on October 7. The largest daily outflow was 14,300 BTC, and the weekly outflow was the highest since June 2023. On the same day, crypto liquidations totaled $550 million, with $487 million from long positions.

Ethereum (ETH) dropped below $2,600, testing $2,548 support. BitMine Chairman Tom Lee said the company will stop buying ETH once it reaches 5% of circulating supply, about 100,000 ETH away. BitMine holds 6.016 million ETH, with 5.067 million staked. US ETH ETFs saw $202 million outflows, coinciding with a 5% ETH price drop and $252 million in futures liquidations.

Bitcoin fell to around $84,000 as Iranian attacks on tankers in the Strait of Hormuz lifted oil prices, Treasury yields, and the dollar. Traders are watching the $83,000 level, which FxPro says would confirm sellers are in control.

Circle's stock (CRCL) fell 5.17% to $79.78 after announcing a stablecoin partnership with Tereina. The deal integrates USDC and EURC payments into SAP's business software, with pilots planned. Arc will be the preferred blockchain for initial payments. Circle's USDC supply reached $74.1 billion, with $74.3 billion in reserves.