Bitcoin hovers just under $50K as crypto universe gains more traction

The world's most popular cryptocurrency Bitcoin (BTC-USD) continues its one-month winning streak as it holds near $50K for the first time since mid-May, and the crypto universe continues to recover from China cracking down on crypto miners. When Bitcoin (BTC-USD) was trading at $30K support in mid-July, "lots of large players took advantage of those prices," Vijay Ayyar, head of business development at crypto exchange Luno, told CNBC. With Bitcoin's upward momentum, most of the usual Bitcoin-linked names also push up — Grayscale Bitcoin Trust (OTC:GBTC +2.1%), Osprey Bitcoin Trust (OTCPK:OBTC +0.5%), Riot Blockchain (RIOT +4.0%), Marathon Digital (MARA +3.6%), Bitfarms (BITF +2.2%), Galaxy Digital Holdings (OTCPK:BRPHF +1.0%), MicroStrategy (MSTR +0.9%), Silvergate Capital (SI +3.7%), and Coinbase Global (COIN -0.1%). Bitcoin (BTC-USD) is struggling to fully break out of $50K resistance on Monday as it's "getting nearer the higher end of what I expect as a new trading range in the low-$40,000s to low-$50,000s,"