Bitcoin Surges to Six-Week High, Boosting Crypto Stocks Riot, Hut 8, Bitfarms (BTC-USD)

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Cryptocurrency-related stocks are booming in premarket trading on Monday as the oldest and largest token by market cap, Bitcoin (BTC-USD), climbed to a six-week high.

Bitcoin climbed as even 5.1%, which reached $28,489 in Monday trading. Many other cryptos posted solid gains, including Ethereum (ETH-USD).) increased by 2.4% to $1,73,000 in the last 24 hours, Solana (SOL USD) +3.9%, Cardano (ADA USD) +2.4%polygon (MATIC USD) +2.1%.

Crypto miners in particular saw the strongest gains with Bitfarms (BITF). Increase of 7.4% after announcing increased Bitcoin (BTC-USD) production in September and $9.5 million in proceeds from selling some of that Bitcoin.

CleanSpark (CLSK) stock rose by 6.6%Greenidge Generation Holdings (GREE) +4.9%Hive Digital Technologies (HIVE) +6.5%Riot Platforms (NASDAQ:RIOT) +6.9%Hat 8 Mining (HUT) +8.2%and Marathon Digital (MARA) +7.1%.

Other crypto-vulnerable names also rose sharply. Coinbase (COIN), which also received a license in Singapore, rose 5.2%, BTC trader MicroStrategy (NASDAQ:MSTR) +5.1%and crypto rewards platform Bakkt (BKKT) +2.6%.

For Bitcoin (BTC-USD), some traders want to see if $28.5K becomes a resistance level after being a support level in the previous bull market, CoinDesk reported.

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