By Omkar Godbole (All times ET unless otherwise noted)
bitcoin and the broader crypto market are rising despite the geopolitical whiplash. While the resistance is impressive, a bullish trend reversal needs a firm move above $75,000.
On Monday, President Donald Trump revealed a five-day delay in strikes on Iran and said talks were underway. That calmed the markets and lifted bitcoin to more than $71,000. The optimism did not last long. Iran quickly denied the talks and Israel continued its attacks on the country, which responded by attacking Tel Aviv overnight.
Still, bitcoin remained stable and looks to extend yesterday’s 4.47% gain, the biggest since March 4. Ether (ETH), XRP (XRP), and solana (SOL) are following BTC’s lead, as usual, along with a 4% 24-hour jump in the CoinDesk 20 index.
Although the move higher is encouraging for bulls, the real test will be around $75,000, which has been a major turning point at least twice in the last 12 months. The March-April 2025 decline lost steam around $75,000, while the early 2024 rally faced resistance there. Additionally, $75,000 corresponds to key Fibonacci retracement levels.
“Although the leading cryptocurrency did not immediately capitalize on the bullish momentum and extend its gains, simply remaining at these high levels now suggests confidence among the bulls. They are gradually developing a more optimistic outlook,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
“However, it would be premature to declare the end of the downtrend until prices settle above $75,000, where the March pivot points and the 61.8% Fibonacci retracement level from the January-February decline are concentrated.”
In other words, a convincing move above $75,000 would confirm a bullish revival. Solana’s SOL token, trading near $90, could emerge as a star in that case.
“Sol is the brightest spot. Near $91, it shows that risk appetite is not dead. The institutional privacy framework angle matters in the long term because it is about making Sol tradable for larger pools of capital, not just faster for retail trading,” said the Marex research team, led by cryptocurrency trading analyst Louis De Backer.
Meanwhile, demand for traditional assets from cryptocurrency investors is pushing exchanges to expand their offerings, with a race underway to launch 24/7 stock perpetual futures. Today, OKX announced the launch of over 20 equity perpetual swaps, giving traders around-the-clock exposure to some of the world’s most popular stocks.
In traditional markets, attention remains focused on the volatility of US Treasury yields, which could limit the rise in risk assets in the near term. Over time, sustained volatility can trigger Federal Reserve intervention, which could set the stage for a higher risk environment. Stay alert!
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today
What to watch
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Crypto
- Macro
- March 24, 8:15 am: ADP US Weekly Employment Change (Previous 9K)
- March 24, 9:45 am: US S&P Global Composite PMI March Flash (previous 51.9); Manufacturing PMI (previously 51.6); Services PMI (previous 51.7)
- March 24, 6:30 p.m.: Federal Reserve Governor Michael Barr’s speech on “Economic Outlook and Community Development” at the National Community Investment Conference, Phoenix
- Earnings (Estimates based on FactSet data)
- March 24: GameStop (GME), post-market, $0.31
symbolic events
For a more complete list of this week’s events, check out 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 with updates on what’s in store for the ecosystem.
- Unlock
- Token releases
Conferences
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is up 0.57% since 4 pm ET on Wednesday to $71,224.20 (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%)
- Ether CESR Composite Staking Rate is down 2 basis points to 2.81%
- BTC funding rate is 0.0063% (6.8602% annualized) on Binance
- DXY rises 0.34% to 99.29
- Gold futures rise 0.28% to $4,416.60
- Silver futures rise 1.44% to $70.04
- The Nikkei 225 closed up 1.43% at 52,252.28
- Hang Seng closed up 2.79% at 25,063.71
- The FTSE 100 is down 0.20% to 9,874.59
- The Euro Stoxx 50 falls 0.47% to 5,548.16
- DJIA closed Monday up 1.38% at 46,208.47
- The S&P 500 closed up 1.15% at 6,581.00
- Nasdaq Composite closed up 1.38% at 21,946.76
- S&P/TSX Composite closed up 1.81% at 31,883.81
- The S&P 40 Latin America closed with an increase of 2.07% to 3,222.70
- The 10-year US Treasury rate fell 6 basis points to 4.33%
- E-mini S&P 500 futures down 0.18% at 6,623.00
- E-mini Nasdaq-100 futures down 0.10% at 24,383.75
- E-mini Dow Jones Industrial Average futures down 0.23% to 46,415.00
Bitcoin Statistics
- BTC dominance: 59.12% (0.07%)
- Ether-bitcoin ratio: 0.03033 (-0.06%)
- Hashrate (seven-day moving average): 983 EH/s
- Hash price (spot): $33.61
- Total fees: 2.45 BTC / $171,175
- CME Futures Open Interest: 116,490 BTC
- BTC priced in gold: 16.1 oz.
- BTC market capitalization against gold: 4.75%
Technical analysis
- The chart shows daily ether price swings in candlestick format since May 2025.
- ETH price appears stuck in a choppy back-and-forth trading range, within a broader bearish trend.
- A possible move above $2,440 would confirm a double breakout, indicating a bullish reversal.
Crypto Stocks
- Coinbase Global, Inc. (COIN): Closed Monday at $200.62 (+1.58%), +0.78% at $202.18 in pre-market
- 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% to $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% to $16.55
- CleanSpark, Inc. (CLSK): closed at $9.98 (+6.17%), +0.50% to $10.03
- Exodus Movement, Inc. (EXOD): closed at $8.12 (+10.03%), unchanged from the previous 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% to $126.15
- Bullish (BLSH): closed at $39.55 (+4.16%), –0.96% at $39.17
Crypto treasury companies
- 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% at $10.39
- Sharplink, Inc. (SBET): closed at $7.51 (+1.49%), unchanged from the previous 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
BTC Spot ETF
- Daily net flows: $167.2 million
- Accumulated net flows: $56.38 billion
- Total BTC holdings ~1.29 million
ETH Spot ETF
- Daily net flows: -$16.2 million
- Accumulated net flows: 11,740 million dollars
- Total ETH holdings ~5.8 million
Source: Farside Investors
