Bitcoin passes $85K, ether tops $2.75K, pushing up crypto stocks

Investor appetite for crypto and related stocks revived on Monday, with bitcoin pushing past the $85K level and ethereum breaking above $2.75K, as crypto treasury companies added more digital assets to their balance sheets.Notably, Michael Saylor's Strategy since August, according to its weekly disclosure. The firm bought 950 bitcoin at an average price of $79,670 per token in the past week, totaling $75.7M. That's the first purchase it made in more than two weeks, as its previous one was in the week ended Aug. 30.Strategy stock jumped 8.8% by early Monday afternoon, while its Strategy variable rate series A perpetual Stretch preferred stock rose only 0.5%.Bitmine Immersion Technologies of ether as of Sept. 20, 2026, vs. the 5,956,378 it held a week ago, implying it acquired some 27,562 tokens during the past week. BMNR stock advanced 7.0%.Strive   between Sept. 11 and Sept. 18, 2026, the company said. Its holdings in Strategy's Stretch preferred shares that it holds remained unchanged at 505,000 shares; however, the fair value of the STRC shares fell by $65K during the week. Strive stock slipped 1.3%.As of early afternoon trading on Monday, bitcoin hit a high of $86.3K, its loftiest level since Jan. 29. Ethereum climbed as high as $2.77K, its highest point since Jan. 29. XRP grew 6.3% to $1.49, solana rose 6.7% to $117.27, and dogecoin (DOGE-USD) added 12% to $0.10.In discussing the bitcoin surge, Glassnode analyst Frederik Theissen wrote, "Spot buyers did the work: taker flow on exchanges flipped from net selling to net buying, volume rose with it, and momentum turned positive without getting stretched."ETF demand is lagging other instruments. "Weekly netflow is still negative at roughly $300M and below its low band, while ETF trading volume jumped and ETF holders moved further into profit," Theissen said.But capital flows are still boding well for bitcoin. "The monthly change in realized cap is above its high band, a sign that new money keeps entering at higher prices, and hot capital share sits near the top of its range," he wrote. "Profitability is elevated and rising."Among crypto miners, the biggest gainers include Bit Digital +7.5%, Hut 8 +6.3%, CleanSpark +3.5%, and Riot Platforms +2.9%.For crypto exchange and service providers, Galaxy Digital +5.1%, Bakkt +4.5%, Coinbase Global +4.4%, and Circle Internet +2.7% performed the strongest.Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.