Cryptocurrencies started the week on solid footing with bitcoin surged above $74,000 and U.S. stocks rebounded as oil prices fell.
In US morning trading, BTC hit its highest price since early February at $74,500, up 3.9% in the past 24 hours. The largest cryptocurrency broke out of its six-week range, strengthening sentiment across the market and increasing appetite for smaller, riskier tokens.
Bitcoin’s rebound from its February low of $60,000 is now approaching 25%, a notable development considering several rebounds of around that amount during the long crypto winter of 2022. Those rebounds failed repeatedly that year before November’s final push to below $16,000, which accompanied the FTX collapse.
Altcoins have surpassed bitcoin over the past 24 hours. Ether (ETH), solana (SOL) and have each climate more than 7%, suggesting a renewed appetite for higher-risk crypto assets after a period when capital was largely concentrated in bitcoin.
U.S. stock indexes also rose after recent losses. The Nasdaq and S&P 500 were each up more than 1% in the morning. At the same time, oil prices, a key driver of recent macroeconomic volatility, have fallen. Crude futures fell about 4% on Monday after briefly surpassing $100 a barrel over the weekend following Iranian strikes on energy infrastructure in the Middle East.
Monday’s action came as tensions around the Strait of Hormuz – a key oil shipping route between the Persian Gulf and global markets – appeared to ease slightly. US President Donald Trump has called on other countries to help secure the waterway, while some Pakistani oil tankers have reportedly crossed the strait, suggesting traffic in the corridor has not been fully disrupted.
Crypto-related stocks were higher on Monday, with Circle (CRCL) up 6%. Strategy (MSTR) and Coinbase (COIN) were about 5% and 3% higher, respectively.
Bitcoin miners also gain
Amsterdam-based AI infrastructure provider Nebius (NBIS) has signed a deal with Meta (META) worth up to approximately $27 billion, marking one of the largest AI computing partnerships announced this year.
Under the five-year agreement, Nebius will provide approximately $12 billion of dedicated AI computing capacity across multiple locations. The infrastructure will be built on one of the first large-scale deployments of NVIDIA systems, designed to support Meta’s growing AI workloads.
Nebius shares rose about 13% after the announcement, while Meta gained 2.5%.
The deal appears to strengthen sentiment within the broader AI compute and data center cohort. Among Bitcoin-related names: IREN (IREN) was up 6%, Galaxy Digital (GLXY) was up 8% and Cipher Mining (CIFR) was up 7%.
TeraWulf (WULF) has secured a $500 million, 364-day senior secured bridge loan led by Morgan Stanley to finance the construction of its Hawesville, Kentucky data center, providing development capital while longer-term project financing is arranged. Shares rose about 12% after the announcement.
