By Omkar Godbole (All times Eastern unless otherwise noted)
Bitcoin The broader cryptocurrency market is pushing higher despite geopolitical shocks. While the resilience is impressive, a change in the bullish trend would require a firm break above $75,000.
On Monday, President Donald Trump announced a five-day delay in striking Iran and claimed negotiations were ongoing. This calmed the market and pushed Bitcoin above $71,000. The optimism didn’t last long. Iran quickly denied the talks and Israel continued its attacks on the country, which responded overnight with Tel Aviv.
Despite this, Bitcoin remains stable and is on track to extend yesterday’s 4.47% gain, its largest gain since March 4. Ethereum (ETH), XRP (XRP) and solana (SOL) followed BTC’s gains as usual, while the CoinDesk 20 index rose 4% over the 24 hours.
While the gains are encouraging for the bulls, the real test will be around $75,000, which has been a major turning point at least twice in the past 12 months. The March-April 2025 slide ran out of steam around $75,000, while the early 2024 rally met resistance there. Additionally, $75,000 corresponds to the key Fibonacci retracement level.
Alex Kuptsikevich, chief market analyst at FxPro, said in an email: “While the leading cryptocurrencies did not immediately capitalize on the upward momentum and extend their gains, simply holding on to these highs shows the confidence of the bulls. They are gradually shaping a more optimistic outlook.”
“However, it would be premature to declare an end to the downtrend until prices stabilize above $75,000, as the March pivot point and the 61.8% Fibonacci retracement level of the January-February decline are centered around that level.”
In other words, a convincing break above $75,000 would confirm a bull market recovery. Solana’s SOL token is trading close to $90 and could be a star in this scenario.
The Marex research team, led by cryptocurrency trading analyst Louis De Backer, said: “Sol is the bright spot. It is close to $91, indicating that risk appetite has not died. The institutional privacy framework perspective is important in the long term, as it is to allow Sol to trade for larger capital pools, not just for retail trading faster.”
Meanwhile, cryptocurrency investor demand for traditional assets is pushing exchanges to expand their product offerings, with the race to launch 24/7 equity perpetual futures underway. Today, OKX announced the launch of more than 20 equity perpetual swap products, giving traders 24/7 exposure to some of the world’s most popular stocks.
In traditional markets, the focus remains on volatility in U.S. Treasury yields, which could limit gains in risk assets in the near term. Over time, continued volatility could prompt the Fed to intervene, potentially setting the stage for a stronger risk environment. Stay alert!
Read more: For analysis of today’s altcoin and derivatives activity, see Today’s Cryptocurrency Market
What to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptocurrency
- Macro
- March 24, 8:15 am: U.S. ADP Employment Change Weekly Report (First 9K)
- March 24, 9:45 am: US March S&P Global Composite PMI Preview (previous value 51.9); Manufacturing PMI (previous value 51.6); Services PMI (previous value 51.7)
- March 24, 6:30 p.m.: Federal Reserve Governor Michael Barr delivers the “Economic Outlook and Community Development” speech at the National Community Investment Conference in Phoenix
- income (Estimate based on FactSet data)
- March 24: GameStop (GME), post-market, $0.31
Token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- StakeDAO’s sdSPECTRA is voting on the Spectra meter weight allocation for the period March 26 to April 1, 2026. Voting ends on March 24.
- March 24: Axie Infinity will host a Lunacian Lounge to introduce the latest developments in the ecosystem.
- Unlock
- Token issuance
Meeting
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
market trend
- BTC is up 0.57% at $71,224.20 as of 4pm ET on Wednesday (24 hours: +4.30%)
- ETH remains unchanged at $2,159.68 (24 hours: +5.85%)
- CoinDesk 20 rose 0.34% to 2,046.50 (24 hours: +4.15%)
- The comprehensive pledge rate of Ethereum CESR dropped by 2 basis points to 2.81%
- The BTC financing interest rate on Binance is 0.0063% (annualized 6.8602%)
- DXY rose 0.34% to 99.29
- Gold futures rose 0.28% to $4,416.60
- Silver futures rose 1.44% to $70.04
- The Nikkei 225 closed up 1.43% at 52,252.28
- The Hang Seng Index closed up 2.79% to 25,063.71 points
- The FTSE 100 fell 0.20% to 9,874.59
- The Stoxx Europe 50 index fell 0.47% to 5,548.16
- The Dow closed up 1.38% on Monday at 46,208.47 points
- The S&P 500 closed up 1.15% at 6,581.00
- The Nasdaq Composite closed up 1.38% at 21,946.76
- The S&P/TSX Composite Index closed up 1.81% at 31,883.81 points
- Latin America’s S&P 40 index closed up 2.07% at 3,222.70 points
- The U.S. 10-year Treasury bond rate fell 6 basis points to 4.33%
- E-mini S&P 500 futures fell 0.18% to 6,623.00
- E-mini Nasdaq 100 futures fell 0.10% to 24,383.75
- E-mini Dow Jones Industrial Average futures fell 0.23% to 46,415.00
Bitcoin Statistics
- Bitcoin dominance: 59.12% (0.07%)
- Ethereum-Bitcoin ratio: 0.03033 (-0.06%)
- Computing power (seven-day moving average): 983 EH/s
- Hash price (spot): $33.61
- Total fee: 2.45 BTC / $171,175
- CME Futures Open Interest: 116,490 BTC
- BTC in gold: 16.1 ounces.
- Bitcoin and gold market capitalization: 4.75%
technical analysis
- This chart shows Ethereum’s daily price movements since May 2025 in candlestick format.
- ETH price appears to be stuck in a volatile back-and-forth trading range, within a broader bearish trend.
- A break above $2,440 would confirm a double breakout and signal a bullish turn.
crypto stocks
- Coinbase Global, Inc. (COIN): Monday’s closing price was $200.62, +1.58%, and the pre-market close was $202.18, +0.78%
- Galaxy Digital (GLXY): Closed at $21.70 (+4.73%), +0.28% at $21.76
- MARA Holdings, Inc. (MARA): Closed at $8.91 (+5.32%), +0.56% at $8.96
- Riot Platforms, Inc. (RIOT): Closed at $14.37 (+7.40%), +0.42% at $14.43
- Core Scientific, Inc. (CORZ): Closed at $16.58 (+4.87%), -0.18% Closed at $16.55
- CleanSpark, Inc. (CLSK): Closed at $9.98 (+6.17%), +0.50% at $10.03
- Exodus Movement, Inc. (EXOD): Closed at $8.12 (+10.03%), unchanged pre-market
- CoinShares Bitcoin Mining ETF (WGMI): Closed at $39.40 (+4.56%), +0.15% at $39.46
- Circle Internet Group (CRCL): Closed at $126.64 (+0.48%), -0.39% at $126.15
- Bullish (BLSH): Closed at $39.55 (+4.16%), –0.96% at $39.17
Cryptocurrency Treasury Corporation
- Strategy (MSTR): Closed at $138.20 (+1.87%), +0.61% at $139.04
- Strive Asset Management, LLC (ASST): Closed at $10.44 (+4.19%), -0.48% to close at $10.39
- Sharplink, Inc. (SBET): Closed at $7.51 (+1.49%), unchanged pre-market
- Upexi, Inc. (UPXI): Closed at $1.17 (+10.38%), +0.85% at $1.18
- Lite Strategy, Inc. (LITS): Closed at $1.18 (+0.85%)
ETF flows
Spot BTC ETF
- Net daily traffic: $167.2 million
- Cumulative net flow: $56.38 billion
- Total BTC holdings are approximately 1.29 million
Spot ETH ETF
- Net daily traffic: -$16.2 million
- Cumulative net flow: $11.74 billion
- The total amount of ETH held is about 5.8 million
Source: Farside Investors
