Bitcoin and Major Cryptocurrencies Saw Significant Gains in Monday's Early Trading

Bitcoin and major cryptocurrencies saw significant gains in Monday's early trading, with Bitcoin reaching approximately $87,480.

Bitcoin and major cryptocurrencies displayed significant gains in Monday’s early trading. BTC price increased by 3.71%, reaching approximately $87,480.

This follows a period of substantial losses for the cryptocurrency. The world’s leading cryptocurrency had dropped below $84,000 on Monday.

The cryptocurrency market capitalization experienced an addition of 2.94% over the past 24 hours, now holding a value of $2.84 trillion.

Despite looming concerns regarding upcoming U.S. tariffs and the anticipated release of key economic data later in the week, the market’s positive momentum persisted.

This suggests strong investor confidence within the crypto sector despite external economic factors.

Among other notable crypto price movements, XRP and Cardano reported gains of 3% and 2%, respectively. Dogecoin also experienced a rise, adding 3.8% to its value.

Chainlink, Avalanche, Hedera, and Stellar displayed growth ranging from 3% to 10%.

“Bitcoin is holding above $86,000, registering a 3% gain today. The key resistance level to watch is $86,700; a breakout could pave the way for $90,000,” said Vikram Subburaj, CEO of Giottus.

Bitcoin’s market capitalisation surged to $1.727 trillion, with dominance rising 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) stood out among the top ten cryptocurrencies, showing an increase of over 7% in the past 24 hours as it traded above $139.

The rally occurred following reports that President Trump’s April 2 tariffs may be more targeted than initially feared, thereby easing market concerns.

This momentum aligns with the unprecedented acceptance rates that Solana has been experiencing. According to DeFiLlama, Solana’s total value locked (TVL) reached 54.87 million SOL, marking its highest level since June 2022.

Ali Charts revealed that a record 11.09 million addresses now hold SOL, further highlighting the cryptocurrency’s increasing adoption.

Moreover, over $72 million in assets have recently been bridged from Ethereum to Solana. Notably, Solana’s weekly active addresses (17 million) significantly exceed Ethereum’s (1.8 million), and Binance’s rising SOL wallet balances suggest fresh accumulation following recent selling activity.

In terms of institutional acceptance, Volatility Shares launched 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, signaling their interest in the cryptocurrency.

BitMEX co-founder Arthur Hayes expressed optimism about Bitcoin’s trajectory, stating, “The Fed’s policy orientation could help Bitcoin achieve $110k before it retests $76.5k.”