Bitcoin and other leading cryptocurrencies boosted their earnings on Monday, March 24, but were concerned about the upcoming issuance of U.S. tariffs and key economic data to be released later this week.
As of 7 a.m. today, Bitcoin rose 3.2% to $86,590, while Ethereum rose 2.3% to trade at $2,047. Over the past 24 hours, the global cryptocurrency market capitalization has increased by 2.94% to $2.84 trillion.
Other notable performers in the crypto space include XRP, Cardano and Dogecoin, with 3%, 2%, and 3.8% of the gains, respectively. Chainlink, Avalanche, Hedera and Stellar have growth rates from 3% to 10%.
Bitcoin’s market capitalization soared to $1.727 trillion, and its dominance rose to 60.73%. Its 24-hour trading volume surged 93% to $18.2 billion, while Stablecoin transactions accounted for 94.74% of total cryptocurrency transactions to $57.58 billion, according to CoinmarketCap.
Solana (Sol) became a great performer, soaring over 7% in the past 24 hours, trading above $139.
“Bitcoin holdings are above $86,000, with a 3% gain today. The key resistance level is $86,700; the breakout could pave the way for a price of $90,000.”
The rally was driven by reports that President Trump’s April 2 tariffs may be more susceptible to attention than the initial tariffs, thus reducing market attention.
Weekend rumors suggest that tariffs may include state exemptions and non-cumulative fees for metals, which helps improve sentiment in global markets.
