The price of bitcoin was higher by 2% on Monday, trading just under $80,000 at levels not seen since May. Ether rose 2% to about $2,500, trading at its highest level since January.
Crypto treasury stocks followed the blue-chip crypto assets higher. Strategy and Strive climbed 2% and 4%, respectively, while ETH treasury names Bitmine and Sharplink gained 3% and 2%, respectively.
Investors are wondering if the rally could mark a turning point for bitcoin, whose price has been stuck in a prolonged slump since October, ahead of a seasonally bullish period for the coin.
BTC in 2026
BTIG’s Jonathan Krinsky pointed out in a Monday note that bitcoin did something similar in January 2023, also surging about 20% in three days and breaking above its downtrend. Then, however, the rally faded and bitcoin pulled back to its 200-day moving average, where it found support.
The move came after a macro shift last week that led to a massive short squeeze in bitcoin and a more than 20% gain over three days — the largest such rally since 2023. After the Treasury said it would double its purchases of longer-dated government bonds, yields briefly pushed lower, helping revive demand for risk assets like bitcoin and scarce assets like gold.
Demand from institutions also returned, with spot bitcoin ETFs posting $1.92 billion in inflows last week—their largest weekly inflow since October, when bitcoin reached its cycle peak. Meanwhile, more than $4 billion in bearish crypto positions were liquidated as prices rose.
Bridgewater Associates founder Ray Dalio warned that major economies could face a debt crisis within the next several years and recommended investors hold “a bit” of bitcoin, reinforcing the crypto asset’s move.
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