Bitcoin Just Hit an 8-Month High. It Could Turn Green for 2026
Bitcoin surged to its highest price since January, nearing a reversal of year-to-date losses.
Some regulatory developments are providing a boost to the crypto market in the wake of a disappointing Senate vote last week.
The price of bitcoin rose Monday to levels unseen since January, leaving the world's largest and best-known cryptocurrency within view of reversing year-to-date losses that were recently under 3%.
The recent surge followed a regulatory consolation prize. While a key crypto bill called the Clarity Act failed Wednesday to advance after a disappointing procedural vote , both the Securities and Exchange Commission and the Commodity Futures Trading Commission stepped in with agency-level exemptions, and rules proposals not yet made public, that could fill the gap for an industry seeking wins in Washington.
Bitcoin traded near $86,000 this morning. The largest public digital asset treasury Strategy (MSTR) gained about 8% in recent trading. Crypto exchange Coinbase (COIN) was up about 5%.
The "bounce may have legs," SentimenTrader's Jay Kaeppel said, citing his firm's long-term sentiment and momentum indicators, which have turned positive.
Bitcoin is rallying even after the Federal Reserve's hiking of its benchmark interest rate last week. Though higher rates tend to weigh on risk assets, making the bond yields seem more attractive by comparison, the cryptocurrency has outperformed over the last five trading sessions. It has risen more than 8% compared to the S&P 500's 1% gain.
Meanwhile, Strategy's latest regulatory filing shows that it bought 950 bitcoin last week for about $76 million, marking its second consecutive purchase since it started selling coins in the spring. The company's stockpile stands at 846,000 bitcoin, near its peak of 847,363, Strategy's ledger shows.
