Crypto Market Turns Green as Global Cap Hits $2.8 Trillion

The cryptocurrency market began the week on a positive note, as seen in its global market capitalization standing at $2.8 trillion, a 1.37% increase within the last 24 hours. On Monday, there was new optimism as Bitcoin crossed the $85k mark and currently, the price is $86,366 thus paving the way for a broader rally among major altcoins. Besides, volumes on trading also increased, with total market volume growing by 31.36% to $55.04 billion, which reflected increased participation by both retail and institutional investors.

Bitcoin Crosses $85k Mark, Once Again

Bitcoin (BTC) was trading at 83k in the past few days, but today it climbed to $86k reflecting a 2.63% growth. Bitcoin’s dominance also edged higher, reaching 60.84%, marking a 0.39% increase on the day. 

A major contributor to Bitcoin’s rebound is the return on institutional interest. According to Farside Investors, in the week ending March 21, US BTC-spot ETFs recorded net inflows of approximately $744.3 million. This ended a five-week outflow streak, signalling growing confidence from institutional players.

iShares Bitcoin Trust (IBIT) led the inflow trend with $537.5 million, while Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $136.5 million, breaking its seven-week outflow pattern. Impressively, the ETFs have now recorded six consecutive sessions of inflows since Friday, March 14.

Ethereum and Altcoins Show Mixed Performance

While Bitcoin grabbed most of the spotlight, Ethereum (ETH) saw a slight dip. The token was down around 0.74%, trading at $1,982.76. The intraday trading range for ETH remained between $1,981.31 and $2,020.62. However, the token remains in focus due to Fidelity Investments’ recent filing. The investment giant has submitted a proposal to register a tokenized version of its US dollar money market fund on Ethereum. The Fidelity Treasury Digital Fund (FYHXX), with assets primarily in US Treasury bills, aims to track transactions via Ethereum’s blockchain.

Solana (SOL) and XRP performed notably well. XRP posted a gain of close to 2%, with its value at $2.42 after hitting an intraday low of $2.38 and an intraday high of $2.45. Solana posted an over 3% gain to $133.47, the largest gainer in the top 10 coins.

Top Gainers: FORM and TRUMP Token Shine

Among the top gainers, Four (FORM) led the pack with an 8.46% rise in the last 24 hours, trading at $1.95. Close behind was OFFICIAL TRUMP (TRUMP), which surged by 7.32%, reaching $11.64. The increase in the TRUMP token price followed a Truth Social post from US President Donald Trump. In the post, he called the meme coin “SO COOL” and “The Greatest of them all.” This endorsement caused the token price to jump from $10.91 to $12.11, an 11% surge before settling slightly lower.

Overall, the crypto market is showing signs of strong recovery, with growing participation and fresh momentum across major assets.