Bitcoin kicked off the week with a fresh pop, brushing $85,229 at its morning peak, a level it had not reached since late January. Around 06:35 a.m. ET, CoinMetrics had it at $84,256, up roughly 3.8% on the day, and a later read at 9:56 a.m.
EDT showed $85,462.19, a +5.27% gain. That momentum has traders wondering if the long downturn that followed bitcoin's October 2025 all-time high above $126,000 is finally fading. Despite being down for the year, bitcoin has climbed more than 7% over the last five days and nearly 35% in three months, still short of its record.
BTIG told clients Sunday that if bitcoin holds $75,000, "bulls can target a push through 82k on the way to" $90,000. Crypto-linked shares rose in U.S. premarket trading Monday, with Strategy and Coinbase among the gainers. Policy headlines are busy in the background: Last week, the U.S. Senate halted the Clarity Act from moving ahead. The bill would have outlined a U.S. crypto framework and would have divided responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
"I do think it's over, it's crypto spring, the crocuses are blooming," said Matt Hougan, chief investment officer at Bitwise, on CNBC's Squawk Box Europe. "I think this will actually be the strongest and longest-running bull market in crypto's history." He argued that while prices fell for a time, the "fundamentals went up," pointing to more on-chain activity and participation from firms like BlackRock. "Now I suspect that prices are going to catch up toward the end of the year," he said. "I don't think if I came back next year, we'd still be below those all-time highs."
Hougan also weighed in on regulation after the Clarity Act's setback: "It's the most pro-crypto SEC in the history of the U.S.; it's the most pro-crypto CFTC in the history of the U.S. So ironically, in the absence of Clarity passing, we may actually have stronger pro-crypto regulation." On flows, he said investors are rotating away from AI stocks and back into crypto, noting the AI surge had "sucked all the oxygen out of the room," and as that trend "levelled off," money is starting to "rotate back into crypto."
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Momentum swung back toward crypto, and that wave is showing up in related stocks too. If you hold crypto or crypto-adjacent names, this week's action is a reminder that narratives and key price levels can drive quick shifts, not just headlines.
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