Stocks tied to the cryptocurrency sector experienced a significant upswing on Monday, fueled by a broader market rally and renewed investor optimism. The surge in digital assets, coupled with easing concerns over U.S. trade tariffs, propelled key crypto-focused companies higher.
Bitcoin’s Influence on Market Momentum
Bitcoin, the world’s largest cryptocurrency by market capitalization, climbed to approximately $87,350, marking a 2.2% increase over the past 24 hours, according to CoinGecko. Other major digital assets followed suit, with Ethereum and Solana rising over 4% and 6%, respectively. The rally coincided with an improving macroeconomic outlook and a softening stance from the White House on trade tariffs.
Earlier this month, the Consumer Price Index (CPI) came in slightly below expectations, alleviating market fears of persistent inflation and stagnating economic growth. Investors interpreted this as a sign that the Federal Reserve might maintain a more accommodative monetary stance, boosting confidence in risk-on assets like cryptocurrencies and tech stocks.
Crypto Stocks See Strong Gains
Leading cryptocurrency-related equities posted substantial gains as optimism spread across the market:
- MicroStrategy (NASDAQ: MSTR) surged over 10%, closing at $335.72 per share. The company, the largest corporate holder of Bitcoin, revealed that its holdings had exceeded 500,000 Bitcoin, valued at approximately $44.2 billion.
- Coinbase (NASDAQ: COIN) climbed 7%, reaching $203, benefiting from the rising interest in digital assets and increased trading activity.
- CleanSpark (NASDAQ: CLSK), a Bitcoin mining firm focused on low-carbon energy, soared over 18%, trading at $8.79 per share.
- Riot Platforms (NASDAQ: RIOT) gained nearly 10%, settling at $9.69 per share.
- MARA Holdings (NASDAQ: MARA) rose 18%, reaching $14.61 per share.
Broader Market Rally and Political Factors
The broader U.S. equity market also saw strong gains, with the Nasdaq Composite jumping 2.2% on Monday. The surge followed indications from the White House that it might ease its previously aggressive stance on tariffs against key trading partners, including China, Mexico, and Canada.
At the same time, President Donald Trump’s policies on cryptocurrency have played a role in shaping market sentiment. His administration has actively promoted the digital asset space, announcing regulatory rollbacks and the formation of a special Bitcoin reserve to support the growing industry.
Despite Bitcoin hitting an all-time high of $108,000 earlier this year following Trump’s inauguration, the asset has experienced fluctuations, dipping below $80,000 at certain points. However, Monday’s rally suggests that investors remain bullish on the long-term potential of the crypto market.
Outlook for Crypto and Tech Stocks
With macroeconomic conditions improving and regulatory uncertainty easing, investors are closely watching whether the current uptrend in cryptocurrency and related equities can be sustained. While volatility remains a defining feature of the sector, the renewed momentum could set the stage for further gains in the coming months.
