Bitcoin Soars Above Seven-Month High as SEC Exemption Boosts Crypto Hopes

Crypto-linked stocks are rising in premarket trading on Monday after Bitcoin reached its highest level in more than seven months.

The world's largest cryptocurrency has extended its recovery following a US regulatory decision that expanded the scope for on-chain trading of tokenized stocks.

Falling oil prices have also helped ease broader inflation worries, allowing investors to look past the hawkish tone that followed last week's Federal Reserve rate increase.

Bitcoin was up 5.1% at $84,435.90 as of 06:17 ET (10:17 GMT), marking a weekly gain of roughly 5%.