Cryptocurrencies started the week strongly along with bitcoin It surpassed $74,000 and US 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 last 24 hours. The largest cryptocurrency broke out of its six-week range, boosting sentiment across the market and increasing appetite for smaller, riskier tokens.
Bitcoin’s bounce from its February low of $60,000 is now approaching 25%, a notable move given several bounces of around that amount during the long crypto winter of 2022. These bounces failed several times that year before the latest November surge below $16,000, which occurred alongside the FTX collapse.
Altcoins are outperforming bitcoin in the last 24 hours. Ether (ETH), Solana (SOL) and They are each up more than 7%, suggesting a renewed appetite for riskier crypto assets after a period in which capital was primarily concentrated in bitcoin.
US stock indices were also rising after recent losses. The Nasdaq and S&P 500 each rose more than 1% in morning trading. Meanwhile, oil prices, a key driver of recent macroeconomic volatility, retreated. Crude oil futures fell about 4% on Monday after briefly topping $100 a barrel over the weekend due to Iranian attacks on energy infrastructure in the Middle East.
Monday’s action came as tensions around the Strait of Hormuz, a critical oil shipping route between the Persian Gulf and global markets, appeared to ease slightly. US President Donald Trump has called on other nations to help secure the waterway, while some Pakistani oil tankers have reportedly crossed the Strait, suggesting traffic through the corridor has not been completely disrupted.
Cryptocurrency-related stocks rose on Monday, with Circle (CRCL) rising 6%. Strategy (MSTR) and Coinbase (COIN) are up about 5% and 3%, respectively.
Bitcoin Miners Win Too
Amsterdam-based AI infrastructure provider Nebius (NBIS) has signed a deal with Meta (META) valued at 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 in 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% following the announcement, while Meta gained 2.5%.
The deal appears to be lifting sentiment across the broader group of data centers and AI computing. Among bitcoin-related names: IREN (IREN) rose 6%, Galaxy Digital (GLXY) rose 8%, and Cipher Mining (CIFR) rose 7%.
Meanwhile, TeraWulf (WULF) secured a $500 million, 364-day secured senior bridge facility led by Morgan Stanley to finance the construction of its data center in Hawesville, Kentucky, providing development capital while longer-term project financing is arranged. Shares rose about 12% following the announcement.