Bitcoin (BTC-USD) jumped on Monday to the highest level since December 2021, driving up shares of firms tied to cryptocurrencies.

The top crypto (BTC-USD) accelerated 3.2% to $49.6K at 11:15 a.m. ET, on track to gain for a seventh-consecutive session. Other major tokens also saw buying pressure, though not to the same magnitude as BTC, with ether (ETH-USD) up 1.6%, cardano (ADA-USD) +2.3% and avalanche (AVAX-USD) +1.1%.

So far this year, BTC has gained 12.8%, helped by the regulatory approval of U.S. spot bitcoin exchange-traded funds, as well as speculation around interest-rate cuts. Last week, amid renewed concerns over the health of regional banks, bitcoin (BTC-USD) logged double digit gains.

The intraday upswing buoyed sentiment for a barrage of crypto-linked stocks, including MicroStrategy (MSTR) +7.3%, Coinbase Global (COIN) +4.7%, Galaxy Digital (OTCPK:BRPHF) +6.6%, Riot Platforms (RIOT) +9.1%, Marathon Digital (MARA) +10.9% and CleanSpark (CLSK) +10.6%.