Bitcoin Surges Past $117K, Boosts Crypto Stocks

Bitcoin broke past the $117,000 mark, triggering a rally in crypto-linked stocks such as Coinbase, MicroStrategy, and Riot Platforms. The surge came ahead of anticipated “Crypto Week” hearings in Washington, where lawmakers are expected to propose regulatory frameworks for stablecoins and digital asset custody.

Institutional demand and scarcity post-halving have been cited as key drivers for the latest leg of Bitcoin’s rally. Additionally, increased ETF inflows and new institutional platforms entering the market are boosting investor confidence in the legitimacy and scalability of digital assets.

Crypto equities, which had lagged earlier this year, are now catching up to token performance. With regulation looming, investors are betting on clarity rather than crackdown. That optimism is fueling renewed interest in companies that serve as picks-and-shovels for the broader crypto economy.