Bitcoin climbed to its highest level in more than a month on Tuesday, nearing $67,000 and pushing higher a group of crypto-linked stocks including Strategy.
Bitcoin was recently trading at $66,886, up nearly 3% over the past 24 hours, according to Bitcoin Magazine. Over the last seven days, the largest cryptocurrency by market value has gained close to 6%. The move came as stocks were also trading higher, even with tensions in the Middle East heating up again.
Nasdaq-listed Strategy (MSTR), formerly MicroStrategy, also rose above $100 per share on Tuesday. The jump came a day after the company said it had not made its usual Bitcoin purchase. Instead, it reported the sale of $225 million in MSTR shares, using the proceeds for its dollar reserve.
Strategy stock fell alongside Bitcoin last year and remains well below its November 2024 peak of $473.83. The software company began buying Bitcoin in 2020 as an inflation hedge. At current prices, it holds 843,775 BTC, a position worth about $56.2 billion.
Other Nasdaq-listed crypto stocks also moved higher on Tuesday, including Coinbase (COIN), the largest crypto exchange in the U.S., and Bitcoin miner Marathon Digital (MARA). At the time of writing, COIN was up 11% and MARA was trading more than 6% higher.
Middle East tensions remain in focus
Bitcoin Magazine said Bitcoin has been under pressure so far in 2026 and is still down nearly 24% year to date. Since setting a record high of $126,080 in October, the asset has lost close to 50% of its value.
The report said Bitcoin was first hit hard in October, when what it described as the biggest crash in the industry’s history liquidated more than $19 billion in crypto bets. Crypto markets then came under heavier pressure in February after the U.S. and Israel attacked Iran, lifting oil prices and adding to uncertainty around global inflation.
Investors are not expecting the Federal Reserve to cut interest rates anytime soon, the report added. Higher inflation lowers the odds of rate cuts, which in turn restricts the liquidity Bitcoin typically needs to rally.
Even so, Bitcoin has so far appeared resilient to the latest flare-up. Iran and the U.S. continue to fight after a truce ended. As of July 20-21, the U.S. had carried out its 10th straight night of strikes on Iranian military targets, with Trump vowing retaliation for the deaths of three American service members. The Pentagon said nearly 100 U.S. troops had been injured over a two-week period.
The report was first published by Bitcoin Magazine and written by Mathew Di Salvo.