Crypto-linked equities rallied Monday as bitcoin broke above $86,000 for the first time in eight months. MicroStrategy Incorporated (NASDAQ:MSTR) led gainers, rising as much as 8% after bitcoin's first weekly close above its 50-week moving average in 45 weeks triggered a $300 million short squeeze. Coinbase Global Inc (NASDAQ:COIN) climbed around 5%, while bitcoin miner Marathon Digital (NASDAQ:MARA) advanced roughly 6%. Bit Digital Inc (NASDAQ:BTBT) was also up around 8%. Falling oil prices, down for a fourth straight session, eased inflation concerns and pulled Treasury yields lower, adding further support to the rally.
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