Bit Digital, Inc. (BTBT) shares surged 17.35% in pre-market trading on Monday, as cryptocurrency-related stocks rallied following Bitcoin's approach to the $109,000 mark. The significant uptick in Bit Digital's stock price reflects the broader positive sentiment in the crypto sector, driven by the substantial gains in Bitcoin's value.
The surge in Bit Digital's stock is part of a larger trend affecting various crypto-related companies. Other firms in the sector also experienced notable pre-market gains, with Bitfarms rising 5%, SharpLink Gaming up 4%, and both IREN and Circle seeing 2% increases. This collective rise underscores the strong correlation between Bitcoin's performance and the stock prices of companies operating in the cryptocurrency space.
Bit Digital's impressive pre-market performance builds on its recent momentum. The company had already seen significant gains in the previous trading sessions, with an 11% jump following a 12% surge last Thursday. This continued upward trajectory suggests growing investor confidence in Bit Digital and the broader cryptocurrency market as Bitcoin reaches new heights.
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