THE BLOCK: Bitcoin touches $85,000, up over 5% in 24 hours and at its highest level since January

Bitcoin's move to $85,000, up more than 5% in 24 hours and its highest level since January, signals a renewed risk-on impulse in crypto and can tighten market liquidity as shorts cover and leverage rises. The breakout may lift beta across majors and crypto-linked equities, while also increasing sensitivity to near-term macro headlines and positioning-driven volatility.