Bitcoin and other leading cryptocurrencies extended their gains on Monday, surpassing $87,000.

As of 9:55 am WAT, Bitcoin rose 3.71% to $87,480, while Ethereum gained 4.05%, trading at $2,093, buoyed by positive investor sentiment despite concerns over upcoming U.S. tariffs and key economic data releases later this week.

Bitcoin and other leading cryptocurrencies extended their gains on Monday, pushing past the $87,000 mark.

The global cryptocurrency market cap increased by 2.94% in the past 24 hours, reaching $2.84 trillion.

As of 9:55 am WAT, Bitcoin rose 3.71% to $87,480, while Ethereum advanced 4.05%, trading at $2,093.

The crypto sphere is displaying resilience despite pending U.S. tariffs and crucial economic data due later this week.

Other noteworthy performers included XRP, Cardano, and Dogecoin which posted gains of 3%, 2%, and 3.8%, respectively. Chainlink, Avalanche, Hedera, and Stellar recorded growth ranging from 3% to 10%.

“Bitcoin is holding above the $86,000 level, registering a 3% uptick today. The key resistance to watch is at $86,700; a breakout could open the door for a move towards $90,000,” said Vikram Subburaj, CEO of Giottus.

Bitcoin’s market cap surged to $1.727 trillion, and its dominance rose to 60.73%. Its 24-hour trading volume soared by 93% to $18.2 billion, while stablecoin transactions accounted for 94.74% of total crypto trading, reaching $57.58 billion, according to CoinMarketCap.

Solana (SOL) emerged as a standout performer, surging over 7% in the past 24 hours to trade above $139.

The rally was driven by reports suggesting that President Trump’s April 2 tariffs may be more targeted than initially feared, putting less pressure on the market.

Solana’s momentum aligns with unprecedented acceptance rates. According to DeFiLlama, Solana’s total value locked (TVL) reached 54.87 million SOL, its highest since June 2022. Meanwhile, Ali Charts revealed that a record 11.09 million addresses now hold SOL, highlighting the cryptocurrency’s surging adoption.

Moreover, over $72 million in assets were recently bridged from Ethereum to Solana. Solana’s weekly active addresses (17 million) also outperformed Ethereum’s (1.8 million), and Binance’s rising SOL wallet balances indicated fresh accumulation following recent selling activity.

Institutional acceptance of Solana continues to grow, with Volatility Shares launching two Solana futures ETFs (SOLZ and SOLT) on Nasdaq on March 21.

Major asset managers, including Franklin Templeton and VanEck, have also applied for spot Solana ETFs, signifying the increasing interest in the cryptocurrency.

In a bullish outlook, BitMEX co-founder Arthur Hayes anticipates that Bitcoin’s bullish run will continue, aiming for the $110k level.

“If we get the Fed pivot that the market expects and the U.S. dollar starts rolling over, then we could well see Bitcoin rally to $110k before it eventually retests the $76.5k low again on the way down.”