Bitcoin Pumps Above $70K as Crypto Rally Resumes; Analyst Sets $83K Price Target

Bitget App

Trade smarter

Bitget2024/03/26 06:57

By:Bitget

Cryptocurrencies started the week with a strong rally, bouncing back from recent losses as bitcoin (BTC) once again traded above its 2021 peak.

Bitcoin (BTC) surged past $70,000 on Monday during U.S. trading hours, surpassing the level for the first time in 10 days and gaining more than 7% over the past 24 hours. Ethereum's ether (ETH) was up 6% during the same period, while tokens for major layer-1 blockchains Solana (SOL) and Avalanche (AVAX) advanced more than 10%.

This move signaled a potential end to the recent correction for crypto markets, which saw BTC drop below $61,000 last week from record prices above $73,000, coupled with tepid inflows to new U.S.-listed spot bitcoin ETFs and increased selling of Grayscale's GBTC fund. Bitcoin could target new all-time highs after breaking out to the upside from its consolidation pattern, analytics firm 10x Research said in a Monday report.

Bitcoin Pumps Above $70K as Crypto Rally Resumes; Analyst Sets $83K Price Target image 0

Futures Market Updates

In the last 24 hours, BTC futures volume hit $93B.

Bitcoin Futures Updates

Total BTC Open Interest: $37.57B (+6.82%)

BTC Volume (24H): $93.38B (+40.26%)

BTC Liquidations (24H): $17.18M (Long)/$53.32M (Short)

Long/Short Ratio: 51.57%/48.43%

Funding Rate: 0.0259%

Ether Futures Updates

Total ETH Open Interest: $13.79B (+6.06%)

ETH Volume (24H): $33.20B (+35.67%)

ETH Liquidations (24H): $6.66M (Long)/$22.82M(M(Short)

Long/Short Ratio: 51.67%/48.33%

Funding Rate: 0.0382%

Top 3 OI Surges

CVC: $14.47M (+367.09%)

AERGO: $1.95M (+136.63%)

POLYX: $136.69M (+104.39%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

This article will review Ethereum's recent performance, provide an in-depth analysis of the current bullish and bearish factors facing Ethereum, and look ahead to its prospects and trends for the end of this year, next year, and the medium to long term. The aim is to help ordinary investors clarify uncertainties, grasp trends, and provide some reference to support more rational decision-making during key turning points.

深潮•2025/11/23 19:21

Hotcoin Research | Fusaka Upgrade Approaching: Analysis and Outlook on Ethereum Long and Short Positions

Crypto Market Surges as Bitcoin Rebounds and Privacy Coins Shine

In Brief Bitcoin rebounded over the weekend, testing the $86,000 mark. Privacy-focused altcoins Monero and Zcash showed notable gains. Total market value surged, crossing the $3 trillion threshold again.

Cointurk•2025/11/23 18:45