Bitcoin Nears $85K, MSTR, ASST Stocks Rally As Crypto Bulls Return Amid Easing Oil Prices

Bitcoin (BTC) neared $85,000 on Monday, with crypto-linked stocks including Strategy (MSTR) and Strive (ASST) rallying in early morning trade, while oil prices fell for a fourth consecutive day.

Bitcoin’s price climbed about 5.5% over the past 24 hours to around $85,900, extending its rebound from last week's lows and helping lift crypto-linked equities higher. Bitcoin treasury MSTR’s stock jumped as much as 7% in pre-market trade, on track to hit an over 3-month high. Its smaller peer, ASST stock was climbing to levels last seen in November, up 6.5% in early morning trade.

BTC and MSTR were the top trending tickers on Stocktwits at the time of writing. Retail sentiment around both assets improved to ‘neutral’ from ‘bearish’ over the past day, accompanied by chatter at ‘normal’ levels.

Coinbase (COIN) and Circle Internet Group (CRCL) shares also climbed about 4% each, adding to a broader move higher across crypto-related stocks.

XRP, SOL And HYPE Outperform Bitcoin

Altcoins added to the rally, with Ripple’s XRP (XRP), Solana (SOL) and Ethereum (ETH) outperforming Bitcoin. Solana’s price rose around 7.2% in the last 24 hours to $116, while XRP’s price rose around 6.8% $1.48. Ethereum’s price gained 6% to around $2,736, hitting highs last seen in February but still 44% below its record high of over $4,900 seen in August last year.