Bitcoin skyrocketed past the $65,000 milestone early on Monday, inching closer to its record high of $69,000 established in November 2021. Within the last day, the leading cryptocurrency surged by more than 6% to reach $65,128, maintaining its upward trajectory amidst a resurgence of investor interest. This remarkable increase has propelled its market capitalization to an impressive $1.
28 trillion. The surge in price is believed to be driven by expectations of robust demand for exchange-traded funds (ETFs) at the start of the week. This surge in Bitcoin value also resulted in a surge in the stocks of companies connected to cryptocurrencies.
Numerous stocks experienced significant gains during premarket trading, with Bit Digital (NASDAQ: BTBT) rising 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%. Not only Bitcoin, but other alternative tokens, known as altcoins, also saw increases on Monday. Ethereum (ETH-USD) rose by 3%, Cardano (ADA-USD) by 10%, and Solana (SOL-USD) by 3.
5%, underscoring the prevailing positive sentiment in the cryptocurrency market.
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