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Crypto is having an extended three-day rally, and it looks a lot like what happened back in 2023, according to at least one analyst.
Cryptocurrencies such as <a href="https://xpertsstudio.com/bitcoin-storms-past-79k-before-hitting-resistance-near-80k/” title=”Bitcoin Storms Past $79K Before Hitting Resistance Near $80K”>Bitcoin and Ethereum and crypto-related stocks are up today, starting the week on a high note, amid worries about the growing U.S. deficit and inflation
That’s after last week’s rally had crypto prices soaring 20%, with Bitcoin up more than 21%, XRP surging over 46%, Ether up 28%, and Dogecoin up 30% for the week, as the assets broke out of their trading ranges.
The rally comes as the U.S. Treasury doubles down on its bond buyback program, and amid President Donald Trump’s continued push to pass the Clarity Act crypto bill, as Fast Companypreviously reported. (Trump has prioritized crypto reform during his second term in office, aggressively promoting crypto-friendly reforms and initiatives, while the president and his family take a personal stake in crypto investments.)
Adding fuel to the fire, Bridgewater Associates founder Ray Dalio warned investors of a possible debt crisis within the next three to five years. “I am confident that the government’s financial condition is at an inflection point,” Dalio wrote on LinkedIn, advising investors to “underweight debt assets like bonds, and [overweight] gold and a bit of Bitcoin.”
A look at the numbers: Bitcoin (BTC) was trading up 3.5% midday on Monday, at 79,912.92, just shy of $80,000, at the time of this writing; while Ethereum (ETH) was up over 2% to about $2,500, at 2,493.61. Both are hitting levels not seen in months, given cryptos’ mostly lackluster performance for much of 2026 so far.
Crypto treasury stocks are also up. Strategy (MSTR) and Strive (ASST) climbed 5% and 3%, respectively, while Bitmine (BMNR) was up 9% and Sharplink (SBET) was up over 6% at the time of this writing.
But on Monday, BTIG’s Jonathan Krinsky noted that in January 2023, Bitcoin surged some 20% in a three-day rally—but then later fell back to its earlier 200-day moving average, per CNBC.
Meanwhile, Kalshi traders think the Bitcoin rally will set the tone of the year’s end, with prices remaining at the current levels—but not soaring further ahead.
Source: www.fastcompany.com