The cryptocurrency market moved higher on Monday, with most major tokens trading in the green. Bitcoin gained over 2% today, rising above $107,000 and coming closer to the $108,000 mark. Ethereum followed with a 4% increase, approaching $2,700. Solana and XRP also posted notable gains of nearly 5% and 7%, respectively.
The broader rebound is connected to a general improvement in market sentiment, largely driven by geopolitical developments. Reports that Iran is seeking to deescalate its conflict with Israel have helped calm global markets. In the United States, the Dow Jones rose by 0.9%, the S&P 500 by 1%, and the Nasdaq by 1.5%. Oil prices dropped by nearly 4%.
Institutional Purchases Continue
Institutional interest in cryptocurrency also remains high. Strategy, the firm led by Michael Saylor and formerly known as MicroStrategy, disclosed the purchase of an additional 10,100 BTC. The acquisition was valued at approximately $1.05 billion, with an average price of $104,080 per Bitcoin. As of June 16, the company holds 592,100 BTC, acquired for roughly $41.84 billion.
Separately, Hong Kong-based MemeStrategy announced the acquisition of 2,440 Solana tokens. Following the announcement, the company’s stock price rose by approximately 21%. The purchase was funded internally and is viewed as part of the company’s focus on cryptocurrency and Web3 initiatives.
Altcoins Show Strong Gains
Among the top-performing altcoins, Aerodrome Finance (AERO) saw a surge of more than 17%. Kaspa also rebounded sharply, gaining 11% after a challenging week. Hyperliquid reached a new all-time high of $45, continuing its recent upward trend.
While large-cap cryptocurrencies led the broader market higher, gains in smaller tokens contributed to the overall positive performance. Trading volume increased across multiple exchanges, and sentiment indicators turned more favorable.
