Bitcoin Stalls at $87,000 Mark, Crypto-Linked Stocks Surge

Bitcoin's price edged up 0.8% in the last 24 hours, but its attempt to break through the late-September high of $87,400 has stalled. The cryptocurrency briefly climbed to almost $87,000 early Monday, coming within roughly $500 of its late-September peak, before sellers pushed it back below $86,000.

This marks the second failed attempt in a week for Bitcoin to clear this level. Last Wednesday, it climbed to around $85,500 following a softer U.S. inflation report, only to give up the gains within hours.

Crypto-linked large-cap stocks including Strategy (MSTR), Coinbase (COIN), and Bitmine Immersion Technologies (BMNR) rallied in early morning trade on Monday, with MSTR and CRCL rising about 3% each in pre-market trading. Meanwhile, COIN and BMNR gained about 2.5% each.

On Stocktwits, only MSTR saw retail sentiment trending in the 'bullish' territory over the past day, while COIN, BMNR, and CRCL all saw sentiment moving in the 'bearish' zone.