Bitcoin climbed above $85,000 on Sep. 21, extending a sharp recovery that has lifted the broader crypto market and pushed several crypto-linked stocks higher. The leading cryptocurrency today
Bitcoin climbed above $85,000 on Sep. 21, extending a sharp recovery that has lifted the broader crypto market and pushed several crypto-linked stocks higher.
The leading cryptocurrency today reached its highest level since late January, after gaining more than 7% over the previous five days. The move comes despite two major headwinds last week.
The Senate failed to advance the CLARITY Act on Sept. 15, leaving broader crypto market-structure legislation stalled, while the Federal Reserve raised interest rates by 25 basis points a day later to 3.75%-4%.
Sentiment, however, improved after regulators moved ahead anyway.
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On Sept. 17, the SEC introduced its five-year Innovation Exemption for tokenized U.S. stocks, while the CFTC issued a no-action position for certain software developers and sent new crypto-market rules to the White House for review. Those steps helped get the regulatory ball rolling again even without CLARITY.
As Bitcoin extended its rebound, Bitwise Chief Investment Officer Matt Hougan said the “crypto winter” may be over.
“I do think it’s over, it’s crypto spring, the crocuses are blooming,” Hougan told CNBC on Monday.
“I think this will actually be the strongest and longest-running bull market in crypto’s history,” he added, arguing that blockchain activity and institutional participation continued improving even while prices fell.
Crypto-linked equities followed Bitcoin higher Monday. Strategy (MSTR) rose about 7.8% to $165.95, Coinbase (COIN) gained 5.3% to $204.63, and Circle (CRCL) climbed 3.4% to $94.90.
Robinhood (HOOD) added roughly 3.3% to $123.75 in morning trading after touching an intraday high of $126.41, its highest level in about nine months.
Robinhood stock price at press time.The stock last traded above that level on Dec. 11, 2025, when it reached $131.77.
Strategy also disclosed Monday that it bought another 950 Bitcoin for $75.7 million between Sept. 14 and Sept. 20, a move that coincided with the stock’s rally.
At press time, Bitcoin was trading near $85,728, up about 6.15% over 24 hours, according to Decibel.
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