Bitcoin Hits 7-Month High, Boosting Crypto-Related Stocks in Pre-Market Trading

Bitcoin climbed to a price not seen in over seven months on Monday, fueling a significant pre-market rally in shares of cryptocurrency-related companies. The surge extends a recent rebound for the world's largest digital asset, driven by a pivotal U.S. regulatory development and easing inflation concerns.

As of 6:17 AM ET, Bitcoin was trading at $84,435.90, a gain of 5.1% for the session and putting its weekly advance at approximately 5%, according to Investing.com data. The move marks a strong recovery from a brief dip below $76,000 following the Federal Reserve's most recent interest rate decision.

Crypto Stocks Follow Bitcoin Higher

The rally in the digital asset market translated directly to equity markets, with crypto-exposed stocks posting strong gains in pre-market activity. The positive sentiment was widespread across the sector, from exchanges to mining operations.

Key movers included:

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• MicroStrategy (MSTR): up approximately 7%
• Coinbase (COIN): up 4.8%
• Robinhood (HOOD): up 3.7%
• Marathon Digital Holdings (MARA): up nearly 5%
• Riot Platforms (RIOT): up nearly 5%
• Hut 8 (HUT): up 4.8%
• CleanSpark (CLSK): up 4.3%

Regulatory Decision Fuels Optimism

The primary catalyst for the rally appears to be a decision last Thursday by the U.S. Securities and Exchange Commission (SEC). The regulator granted a five-year temporary exemption allowing qualified trading platforms to offer tokenized versions of U.S. stocks on blockchain-based systems under specific conditions.

The SEC stated the move is intended to foster financial innovation while maintaining investor protections. This decision has bolstered market expectations for a deeper integration between traditional financial markets and blockchain infrastructure, lifting sentiment for digital assets and related equities.