India, Oct. 19 -- Bitcoin rose above $82,000 on Monday as falling oil prices helped improve investor confidence in risky assets. The world's largest cryptocurrency recovered after falling last week.

Bitcoin climbed as much as 2.3% during early Asian trading. It was trading at around $82,400 by noon in Singapore, showing a recovery from its recent decline, Bloomberg reported. Other major cryptocurrencies also gained. Ether rose as much as 3.7%, while Solana climbed more than 4.6% during the session.

The recovery in cryptocurrencies came as oil prices moved lower. Oil had reached a five-month high before retreating, helping improve demand for assets that carry higher investment risks. Signs that oil supplies from the Middle East had remai...