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Bitcoin (BTC-USD) rose above $65,000 in the early hours of Monday, approaching its November 2021 all-time high of $69,000.
In the last 24 hours, the leading cryptocurrency rose over 6% to $65,128, maintaining its upward trend Momentum given renewed investor interest. This increase has pushed the market cap to a staggering $1.28 trillion.
The increase is likely due to expectations of strong demand for exchange traded funds (ETFs) earlier in the week.
This Bitcoin rally also triggered a surge in cryptocurrency-related stocks.
Several stocks posted significant gains in premarket trading, including Bit Digital (NASDAQ:BTBT) at 10%Cleanspark (NASDAQ:CLSK) from 10%Cipher mining (NASDAQ:CIFR) from 6.4%Coinbase (NASDAQ:COIN) from 7.2%Riot Platforms (NASDAQ:RIOT) at 5'o clock %Marathon Digital (NASDAQ:MARA) at 7 %and MicroStrategy (NASDAQ:MSTR) by 7.7%.
In addition to Bitcoin, other tokens, so-called altcoins, also recorded gains on Monday. Ethereum (ETH-USD) +3%Cardano (ADA-USD) +10%and Solana (SOL-USD) +3.5%, underlining the overall positive sentiment in the cryptocurrency market.
In addition, smaller tokens, often referred to as meme coins, also rose as part of the Bitcoin rally. Dogecoin (DOGE-USD) rose sharply almost 20%, while Shiba Inu (SHIB-USD) increased by 22%.
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