08:24 AM EST, 11/25/2024 (MT Newswires) -- Major cryptocurrencies were up ahead of Monday's US equities open as analysts raised their price target on MicroStrategy ( MSTR ) stock based on the value of the company's growing bitcoin holdings.

Bitcoin was up more than 1%, trading at about $98,431 before the bell. Ethereum (ETH) increased by more than 4.3%, to trade at $3,491. Solana (SOL) was up over 1.6% to about $253.

The global crypto market cap was up 1.8% to $3.37 trillion. The CoinDesk Market Index increased more than 1.8% in the past 24 hours.

"MicroStrategy's ( MSTR ) bitcoin treasury model is unprecedented on Wall Street, in our view. A company on an insatiable path to attract billions in global capital to invest in bitcoin," Bernstein analysts said in a Monday research report, as they increased their price target for the stock to $600 from $290.

Wall Street analysts have a mean price target of $478.78 for the stock, according to Factset data. MicroStrategy ( MSTR ) shares, which closed last week at about $421.88, were up almost 4% in Monday's premarket activity.

Spot price bitcoin exchange-traded funds on Friday saw record total net inflows of about $490.4 million, according to data compiled by the research platform SoSoValue. Their ethereum counterparts logged total net inflows of $91.2 million to end the week.

Investors will be awaiting the minutes of the Federal Reserve's latest policy meeting scheduled to be released Tuesday.

Tuesday also brings building permits data and new home sales report for October as well as the Case-Shiller Home Price Index for September.

The personal income and outlays report for October is out on Wednesday. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric. The weekly jobless claims bulletin and third-quarter GDP report will also be released on Wednesday. US markets will be closed on Thursday for the Thanksgiving holiday.