The cryptocurrency market is experiencing a broad-based rally, with Bitcoin surpassing $75,000 to reach a recent high. Following a previous period of weakness, the digital asset market has recently entered a bullish phase.
Major cryptocurrencies are collectively performing strongly, with Ethereum, Solana (SOL), and XRP all showing significant upward momentum.
According to data from CoinGlass, a total of 127,486 traders faced liquidations globally over the past 24 hours, amounting to a total liquidation value of $570 million. Of this, long position liquidations accounted for $124 million, while short position liquidations reached $446 million.
Analysis from Cointelegraph cites Andrei Grachev, Managing Partner of crypto market maker DWF Labs, who suggests that the "Altseason"—a period historically driven by broad crypto market gains—is becoming a thing of the past. Institutional capital is now showing a greater preference for allocating to Bitcoin, Ethereum, and tokenized real-world assets (RWA), further diverting attention and funds away from altcoins. Data indicates that over the past 13 months, the altcoin market has seen a cumulative outflow of more than $209 billion, with approximately 38% of altcoins currently trading near their historical lows.
Furthermore, data from SoSoValue shows that last week, Bitcoin spot ETFs saw a net inflow of $767 million, marking the third consecutive week of net inflows. Ethereum spot ETFs recorded a net inflow of $161 million, also for the third week in a row. Solana (SOL) spot ETFs had a net inflow of $10.7 million, while XRP spot ETFs experienced a net outflow of $28.07 million.
On March 16, major Bitcoin holder Strategy announced that it had purchased 22,337 Bitcoin between March 9 and March 15, 2026, with a total purchase cost of $15.7 billion and an average purchase price of $70,194 per coin. As of March 15, 2026, Strategy holds a total of 761,068 Bitcoin, acquired at a total cost of $57.61 billion, with an average purchase price of $75,696 per coin.
As Bitcoin's correlation with technology stocks gradually weakens, coupled with the return of institutional capital, Bitcoin is demonstrating strong independent momentum against a backdrop of overall cautious market sentiment. Moneta Markets Forex believes that while Bitcoin's recent performance does not signify it is entirely detached from risk, it sufficiently indicates that investors no longer view it purely as a risk asset, suggesting a subtle shift in its asset attributes.
On the macroeconomic front, recent tensions between the US and Iran show no signs of easing, contributing to the rise in Bitcoin's price, which has significantly outperformed traditional assets like tech stocks and gold. However, some analysts caution that although the rebound in Bitcoin's price is encouraging, the recent price action appears more like a recovery from previous declines rather than a signal of investors fully returning to risk-on behavior.
Analysts point out that Bitcoin's recent rallies have largely followed a similar pattern: breakthroughs occur alongside sharp fluctuations in oil, metals, and commodity prices, but these gains have proven difficult to sustain. Compared to the period around late 2025 when Bitcoin was fluctuating between $85,000 and $95,000, current trading volumes are substantially lower. This makes Bitcoin more susceptible to sudden and sharp price movements.
Comments