Introduction
The cryptocurrency market is experiencing a significant rally as Bitcoin (BTC) surges past $86,000 and Solana (SOL) makes headlines with its first-ever futures ETFs. This momentum comes despite upcoming U.S. tariffs and key economic data releases later this week. Let’s break down the factors driving this surge and what it means for investors.
Bitcoin Price Surge: Key Resistance Levels
Bitcoin continued its upward trajectory on Monday, rising 3.2% to reach $86,590 as of 7am WAT. The world’s largest cryptocurrency saw its market capitalization surge to $1.727 trillion, with dominance increasing to 60.73%.
The 24-hour trading volume soared by 93% to $18.2 billion, while stablecoin transactions accounted for 94.74% of total crypto trading, reaching $57.58 billion according to CoinMarketCap.
“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.
Solana Futures ETFs Fuel 7% Rally – What’s Next for SOL?
Solana emerged as a standout performer, surging over 7% in the past 24 hours to trade above $139. This rally was fueled by several positive developments:
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ETF Launch: Volatility Shares launched two Solana futures ETFs (SOLZ and SOLT) on Nasdaq on March 21
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Institutional Interest: Major asset managers including Franklin Templeton and VanEck have applied for spot Solana ETFs
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Network Growth: DeFiLlama reported Solana’s total value locked (TVL) reached 54.87 million SOL, its highest level since June 2022
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Address Activity: A record 11.09 million addresses now hold SOL, with weekly active addresses (17 million) significantly exceeding Ethereum’s (1.8 million)
Additionally, over $72 million in assets have recently been bridged from Ethereum to Solana, indicating growing adoption and utility.
How Fed Rate Cuts & Tariffs Are Driving Crypto Gains
The Federal Reserve’s projections for two rate cuts this year have provided support for risk assets. The central bank described potential tariff-induced inflation as “transitory,” easing market concerns.
Weekend rumors suggested that President Trump’s April 2 tariffs may be more targeted than initially feared, with possible country exemptions and non-cumulative charges on metals. This clarity helped improve sentiment across global markets.
BitMEX co-founder Arthur Hayes expressed optimism about Bitcoin’s trajectory, stating, “The Fed’s policy orientation could help Bitcoin achieve $110k before it retests $76.5k.”
What You Should Know
For Bitcoin investors:
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The $86,700 resistance level is critical for a potential move to $90K
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Stablecoin dominance highlights current risk-on sentiment
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Monitor Bitcoin’s trading volume and whale activity for confirmation of sustained momentum
For Solana investors:
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Track Binance’s SOL wallet balances for signs of continued accumulation
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Watch for further institutional adoption signals
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Consider Solana’s growing TVL and address activity as fundamental metrics
All data culled from: coinmarketcap.com
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