Bitcoin and other major cryptocurrencies saw significant gains in early Monday trading, with Bitcoin rising 3.71% to reach approximately $87,480. Ethereum also experienced a strong rally, climbing 4.05% to trade at $2,093.
The total cryptocurrency market capitalization increased by 2.94% over the past 24 hours, reaching $2.84 trillion, reflecting strong investor confidence despite concerns over upcoming U.S. tariffs and key economic data releases later in the week.
Several altcoins also posted notable gains, including XRP (+3%), Cardano (+2%), and Dogecoin (+3.8%). Chainlink, Avalanche, Hedera, and Stellar recorded growth between 3% and 10%.
“Bitcoin is holding above $86,000, registering a 3% gain today. The key resistance level to watch is $86,700; a breakout could pave the way for $90,000,” said Vikram Subburaj, CEO of Giottus.
Bitcoin’s market capitalization surged to $1.727 trillion, with its dominance rising to 60.73%. Trading volume also spiked, increasing by 93% to $18.2 billion in the past 24 hours. Stablecoins accounted for 94.74% of total crypto transactions, reaching $57.58 billion, according to CoinMarketCap.
Solana emerged as a standout performer, surging over 7% to trade above $139. The rally was driven by reports suggesting that President Trump’s April 2 tariffs may be more targeted than initially expected, easing market concerns.
According to DeFiLlama, Solana’s total value locked has reached 54.87 million SOL, its highest level since June 2022. Adoption is also rising, with Ali Charts reporting a record 11.09 million addresses now holding SOL.
Additionally, more than $72 million in assets have been bridged from Ethereum to Solana in recent days. Solana’s weekly active addresses (17 million) now far exceed Ethereum’s (1.8 million), and rising SOL balances on Binance indicate fresh accumulation.
Institutional interest in Solana is growing, with Volatility Shares launching two Solana futures ETFs on Nasdaq on March 21. Major asset managers such as Franklin Templeton and VanEck have also applied for spot Solana ETFs, signaling increased confidence in the cryptocurrency.
BitMEX co-founder Arthur Hayes remains optimistic about Bitcoin’s trajectory, stating, “The Fed’s policy orientation could help Bitcoin achieve $110,000 before it retests $76,500.”
With Bitcoin maintaining strong momentum and institutional interest in cryptocurrencies rising, analysts are closely watching resistance levels for the next potential breakout.
