Key Highlights:
- Bitcoin surged nearly 2% intraday, briefly crossed $74,000 before easing slightly.
- The global crypto market strengthened as Ethereum moved above $2,200 and Solana climbed past $90.
- US spot Bitcoin ETFs recorded about $250.9M inflows, and signals sustained institutional demand.
In Monday’s trading session, several major cryptos moved higher with Bitcoin rising sharply and briefly crossing the $74,000 level before easing slightly later today.
Bitcoin rose close to 2% within a short span of time, and touched an intraday peak above $74,000. At the time of the latest update, the crypto was trading near $73,882.58.
Bitcoin Price Hits $74K Mark
Earlier on-chain data showed Bitcoin trading around $71,342, i.e., a 0.82% gain over the previous 24 hours before the rally accelerated. The price recovery unfolded with a broader rebound in cryptos, as traders returned to the market following several sessions of muted movement.
The improvement was visible across the global crypto market. Ethereum pushed above the $2,200 level, and Solana moved past $90 during the same period. As major cryptos advanced, the total crypto market cap climbed to roughly $2.55 trillion. The figure showed an increase of about 1.8% over the last day.
Several smaller altcoins also recorded notable gains. Among the strongest performers was REZ, which rose more than 31 percent to trade near $0.0042. SHELL followed with a gain of about 17.7 percent, reaching around $0.036. TAO recorded an increase of over 14 percent and traded close to $284.
Institutional activity around Bitcoin continued to draw attention as well. Michael Saylor, the founder of Strategy, once again shared updates connected to the firm’s Bitcoin holdings through its widely followed Bitcoin Tracker. As of March 8, 2026, Strategy held a total of 738,731 BTC. The firm’s cumulative purchase cost stands at approximately $56.04 billion, giving it an average acquisition price of about $75,862 per Bitcoin.
Technical analysts are also examining the recent price structure. Veteran trader Peter Brandt published a chart highlighting what he described as a “trumpet” pattern forming on Bitcoin’s daily chart. Brandt is known in trading circles for correctly anticipating the major Bitcoin decline in 2018.
The trumpet formation traces its origins to the work of early market technician Richard Schabacker. The pattern was discussed in Schabacker’s 1934 book Technical Analysis and Stock Market Profits. It represents an expanding structure that can signal a turning point or a strong directional move.
According to Brandt’s chart, Bitcoin has been shaping a narrowing pattern following the decline seen in February. The structure resembles the mouth of a trumpet gradually tightening before accelerating upward. Such formations often precede a sharp move toward a local peak before prices consolidate.
Derivatives data also points to a key price zone forming near the current trading range. Crypto analyst Murphy noted that options expiring on March 20 carry significant Gamma Exposure around the $74,000 level. The exposure totals roughly $180 million and forms what traders describe as a long gamma structure.
In these conditions, market makers frequently hedge their positions as prices approach the strike level. The hedging activity can dampen volatility and cause the asset to trade near that price range for a period of time. As a result, the $74,000 level may act as a short-term resistance area.
The options landscape changes after the March 20 expiry. The next major expiry occurs on March 27, and the structure of open interest suggests that many traders expect higher prices. Call options currently exceed put positions by a wide margin, which shows strong bullish positioning across derivatives markets.
Murphy believes this shift could place $75,000 at the center of attention in the upcoming days. As volatility returns, Bitcoin may encounter resistance near $80,000 but potential support could emerge in the $65,000 – $67,000 range.
Irrespective of a modest pullback from its intraday high, Bitcoin has continued to hold most of its gains. The asset was later seen trading near $73,743.34, and leaves it more than 3.4% higher over the past 24 hours.
Institutional demand also remained strong. Data from US spot Bitcoin exchange-traded funds showed combined net inflows of roughly $180.33 million in the last session.
