Bitcoin has surged past $72,000, driven by renewed institutional interest and significant inflows into US spot Bitcoin ETFs. Major altcoins like Ethereum, BNB, and Solana are also showing strong gains. Analysts suggest this recovery, despite cautious sentiment, could lead to further price increases if key resistance levels are broken. The market is stabilizing after an early-year correction.
Bitcoin has gained 20% from February lows of $60,000 and traded near $72,000 as the institutional demand revived. The cryptocurrency was trading at $72,836 level on Thursday.
In the past 24 hours, Bitcoin has gone up 7.5% whereas Ethereum went up 9% and was trading at $2,138 level. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained over 8%. The global crypto market capitalisation went up 6.31% to $2.46 trillion, according to CoinMarketCap.
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Riya Sehgal, Research Analyst, Delta Exchange said the crypto market is showing a measured recovery after the early-year correction and despite the rebound, sentiment remains cautious.
Around 43% of Bitcoin’s supply is still held at a loss, creating potential selling pressure. The market is shifting from a sell-off to stabilization and sustained institutional inflows and a breakout above mid-$75,000s could open the path toward $78,000-$80,000, though volatility may stay high due to macro and positioning factors, Sehgal further said.
The move higher has been supported by strong inflows into U.S. spot Bitcoin ETFs and renewed institutional demand, which helped push prices to a one-month high, said CoinSwitch Markets Desk.
In the past week, Bitcoin and Ethereum went up 6% and 3% respectively. Among the major altcoins, BNB, Solana, and Hyperliquid gained over 12% whereas XRP, Tron, Dogecoin, Cardano fell over 6%.
Nischal Shetty, Founder, WazirX said over the past 24 hours, the crypto market has seen renewed momentum, Bitcoin is trading around $72,500-$73,000, holding strong levels as market activity picks up. Ethereum is trading near $2,125, moving broadly in line with Bitcoin as buying interest remains steady across major assets.
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What other analyst say
CoinDCX Research Team
Bitcoin broke above the consolidation and surged above $73,600 as the war escalated in the Middle East. The Ethereum price also soared above $2,100, displaying strength among the other altcoins as well. Market sentiment is improving as the Fear and Greed Index surges to 20.
Vikram Subburaj, CEO, Giottus
The asset extended its recovery as institutional flows and improving risk appetite supported the broader digital assets market. Bitcoin gained roughly 7% over the preceding 24 hours as buying interest returned after a brief consolidation phase.
On-chain indicators show that the market is still some distance from overheating. Spot Bitcoin ETFs recorded notable inflows earlier in the week. Industry data showed net additions of more than $225 million on March 3 and about $155 million on March 4.
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Akshat Siddhant, Lead quant analyst, Mudrex
The rally is being supported by improved regulatory sentiment following Trump’s push for the CLARITY Act, alongside steady inflows into Bitcoin ETFs that continue to absorb supply. This level of institutional accumulation strengthens the market structure during breakout attempts.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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