Crypto-linked stocks surge as Bitcoin breaks through May highs
On September 21, 2026, crypto-related stocks surged alongside a rise in Bitcoin prices above $86,000 for the first time in eight months. MicroStrategy (NASDAQ:MSTR) led gains with an 8% increase after triggering a short squeeze due to Bitcoin's weekly close above its 50-week moving average. Coinbase Global (NASDAQ:COIN), Marathon Digital Holdings (NASDAQ:MARA), and Bit Digital Inc (NASDAQ:BTBT) also saw significant rises of around 5-8%. The rally was supported by falling oil prices, which eased inflation concerns and pulled Treasury yields lower. Chris Beauchamp from IG noted that financial markets had shifted into a risk-on mode after weeks dominated by worries over bond yields and central bank policy. He highlighted the significance of Bitcoin breaking above $80,000 again and predicted renewed investor interest in crypto following historically weaker returns during August and September. However, regulatory uncertainty remains due to the collapse of the Clarity Act, leaving a potential turf war between the SEC and CFTC unresolved before mid-term elections.
Tickers: $BTBT $COIN $MARA $MSTR
Topics: bitcoin oil_prices short_squeeze stock_prices Treasury_yields