Bitcoin climbed back to $73,400 during Monday's U.S. trading session, erasing a significant decline seen over the weekend. The recovery occurred as WTI crude oil retreated below $100 per barrel and U.S. equities posted gains.
Digital assets initially dropped roughly 4% from Saturday night into early Monday morning. This volatility followed reports that U.S. Vice President J.D. Vance left Pakistan without a peace deal with Iran and President Trump ordered a blockade of the Strait of Hormuz.
Despite these geopolitical shifts, Bitcoin rose more than 3% over a 24-hour period. Other major cryptocurrencies, including Ether, Solana, and XRP, also posted gains, though they trailed Bitcoin's performance.
Strategy continues aggressive Bitcoin accumulation
Michael Saylor’s firm, Strategy, continues to expand its Bitcoin holdings at a rapid pace. The company purchased 13,927 BTC for $1 billion last week.
To fund the acquisition, the firm issued $1 billion in STRC preferred stock yielding 11.5% rather than issuing common stock. Trading volume for STRC reached a record $770 million on Monday, signaling potential further issuances.
Crypto-related equities also saw significant movement. Circle shares rose 11%, while Gemini gained 9%. MARA Holdings and Bullish both climbed by more than 8%.
In traditional markets, the Nasdaq rose 1.2% by the close of the session. Meanwhile, WTI crude oil fell to $98 per barrel after hitting a peak of $105 on Sunday.
