Bitcoin (BTC) price skyrockets to $88,330, Ethereum (ETH) follows suit

The crypto markets woke up with strength this weekend, marking a turning point in investor sentiment. Bitcoin (BTC) skyrocketed to $88,330.67, posting a 4.04% gain

Crypto prices rose again this weekend as investors grew more optimistic on Monday. Bitcoin (BTC) price rose by 4.04% in the last 24 hours to reach $88,330.67. Meanwhile, Ethereum (ETH) wasn’t far behind at $2,087.35, showing a positive variation of 3.88%.

Several analysts attributed this latest surge to the significant inflow into spot Bitcoin ETFs, a fact highlighted by QCP Capital. In total, 8,775 BTC were acquired in recent sessions by these ETFs. Among them, BlackRock’s IBIT ETF led the way with an investment of nearly $535 million in Bitcoin.

Unlike previous moves fueled by leverage, this rally appears to be driven by real demand, which makes it more sustainable in the medium term.

The crypto market is still largely uncharted territory, with plenty of room for growth. While some like Arthur Hayes, former CEO of BitMEX, see Bitcoin heading toward $110,000, others believe that the Federal Reserve’s policy decisions will be crucial in determining the short- and medium-term direction.

Among the best performers on Monday morning were Solana (SOL), which led the altcoin pack with an impressive 8.16% jump, reaching $143.38.

Dogecoin (DOGE), a community’s favorite meme, advanced 6.04% to reach $0.1816. Cardano (ADA) also showed strength with a 4.00% increase.

In the top 10 tokens, XRP is currently trading at $2.48, reflecting a 3.13% gain, while BNB moved up more modestly to $628.00, marking a 0.89% rise. In contrast, TRON (TRX) is the only token to retreat, falling 1.68% to $0.2294, suggesting some profit-taking within its ecosystem.

Despite the positive market sentiment, analysts remain cautiously optimistic. Concerns are growing over a potential recession and the tariff increases set to take effect on April 2, which could negatively impact global markets.

Volatility still lingers, though the Crypto Fear and Greed Index is leaning towards confidence, currently sitting at 45%.

TL;DR

Bitcoin price rose by 4.04% in the last 24 hours to reach $88,330.67.

Several analysts attributed this latest surge to the significant inflow into spot Bitcoin ETFs.

According to QCP Capital, about 8,775 BTC were acquired by these ETFs in recent sessions.

Among them, BlackRock’s IBIT ETF led the way with an investment of nearly $535 million in Bitcoin.

This rally appears to be driven by real demand, which makes it more sustainable in the medium term.

According to Arthur Hayes, former CEO of BitMEX, BTC price is expected to reach $110,000. However, according to Federal Reserve’s policy decisions will be crucial in determining the short- and medium-term direction.