Bitcoin rebounded sharply on Monday, climbing about 5.5% in 24 hours to around $85,900 as cryptocurrency-linked stocks also moved higher.
Strategy (MSTR) gained as much as 7% in pre-market trading, while Strive (ASST) rose about 6.5%. Coinbase (COIN) and Circle Internet Group (CRCL) also gained roughly 4% each.
Other major cryptocurrencies also advanced. Solana rose 7.2% to about $116, while XRP gained 6.8% to $1.48. Ethereum climbed 6% to around $2,736.
The broader crypto market increased about 4% to just below $3 trillion, although more than $720 million in crypto positions were liquidated over the previous 24 hours, according to CoinGlass.
More than $620 million of the liquidations came from short positions.
The crypto rally came as oil prices extended their decline. Brent crude fell for a fourth consecutive session, marking its longest losing streak in three months.
Oil prices had surged above $100 last week amid concerns over Middle East supply disruptions, with West Texas Intermediate crude rising above $106 and Brent approaching $110.
U.S. President Donald Trump also said he would “probably” be open to meeting Iranian President Masoud Pezeshkian at the United Nations General Assembly this week.
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