Crypto rally accelerates as Bitcoin breaks out and Coinbase reaches a four-month high
Coinbase (COIN) shares rallied Monday as Bitcoin surged above $85,000, extending a powerful rebound across cryptocurrency markets and lifting digital-asset-related stocks.
Bitcoin gained more than 5% at its session highs, briefly reaching approximately $85,400 — its highest level since January. The cryptocurrency has rebounded sharply from around $75,000 last week, with more than $750 million in crypto positions liquidated over the past 24 hours, including roughly $648 million in short positions.
The breakout provided a major tailwind for Coinbase, which climbed more than 5% to a four-month high. The stock had already jumped nearly 12% Friday, extending its recent recovery as enthusiasm returns to the cryptocurrency sector.
Coinbase is also benefiting from company-specific developments. The exchange announced that eligible customers will gain access to select shares at IPO prices, beginning with smart-ring maker Oura. Meanwhile, recent regulatory developments surrounding tokenized U.S. equities have strengthened investor interest in Coinbase’s broader trading ambitions.
The rally spread across crypto-linked equities, with Strategy and other digital-asset stocks moving sharply higher.
Bitcoin’s move above $85,000 now puts the cryptocurrency back near levels not seen in eight months, while Coinbase continues to amplify the renewed momentum across the sector.
