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Bitcoin (BTC-USD) surged past the $65,000 mark during the early morning hours on Monday, edging closer to its all-time high of $69,000 set in November 2021.
Over the last 24 hours, the leading cryptocurrency has surged by over 6% to $65,128, maintaining its upward momentum amidst renewed investor interest. This surge has driven its market capitalization to a staggering $1.28 trillion.
The rise is likely fueled by the anticipation of strong demand for exchange-traded funds (ETFs) at the beginning of the week.
This Bitcoin rally also triggered a surge in stocks linked to cryptocurrencies.
Several stocks witnessed significant gains in premarket trading, including Bit Digital (NASDAQ:BTBT) by 10%, Cleanspark (NASDAQ:CLSK) by 10%, Cipher Mining (NASDAQ:CIFR) by 6.4%, Coinbase (NASDAQ:COIN) by 7.2%, Riot Platforms (NASDAQ:RIOT) by 5%, Marathon Digital (NASDAQ:MARA) by 7%, and MicroStrategy (NASDAQ:MSTR) by 7.7%.
Beyond Bitcoin, other tokens, known as altcoins, also saw gains on Monday. Ethereum (ETH-USD) +3%, Cardano (ADA-USD) +10%, and Solana (SOL-USD) +3.5%, respectively, highlighting the generally positive sentiment prevailing in the cryptocurrency market.
Furthermore, smaller tokens, often referred to as meme coins, also rose on the back of Bitcoin’s rally. Dogecoin (DOGE-USD) surged nearly 20%, while Shiba Inu (SHIB-USD) climbed 22%.