Bitcoin extended its recovery on Monday, approaching the next key resistance range near $90,000 as broader market concerns began to ease.
The total cryptocurrency market capitalisation rose by approximately 2% to $1.74 trillion.
Meanwhile, the Crypto Fear and Greed Index climbed 15 points to 45. Although still in ‘fear’ territory, the shift reflects a significant improvement in trader sentiment.
Several of the altcoins posted modest gains, though overall momentum remained largely concentrated in Bitcoin.
Will Bitcoin price go up?
Bitcoin’s price has been moving sideways in a wide range between $76,600 and $87,500 since 11 March.
One analyst says it’ll need to break above $90,000 soon, or this choppy phase could drag on longer.
According to Daan Crypto Trades, right now, the price is hovering in the middle of the range, with no clear direction.
He says sentiment and momentum could flip bullish again if Bitcoin manages to reclaim the previous range between $90,800 and $108,500, which might open the door to new highs.
If that doesn’t happen, he’s eyeing the $73K–$74K zone as the next major level to watch.
In the long term, though, he remains bullish and sees the recent correction as a normal pullback in an ongoing bull cycle.
Currently, several bullish catalysts remain in Bitcoin’s favour.
For instance, Bitcoin’s funding rates are around 0%, indicating indecisiveness in the market.
When funding rates are neutral, there’s little cost to holding positions, which takes pressure off both longs and shorts.
That can help stabilise prices in the short term, reducing volatility and keeping Bitcoin in a consolidation phase.
At the same time, sentiment is starting to tilt in Bitcoin’s favour as broader macro conditions shift.
Trump has softened his stance on the upcoming 2 April reciprocal tariffs, easing fears of an all-out trade war.
On top of that, the Federal Reserve has signalled it may pause further rate hikes for now, giving markets more room to breathe.
Meanwhile, signs of strong accumulation are starting to show.
On-chain analyst Ali Martinez pointed out a large transfer of 10,000 BTC—worth roughly $842.9 million—from exchanges to self-custody wallets.
He described the move as “strongly bullish,” noting that large outflows like this often signal that investors are planning to hold for the long term.
With fewer coins available on exchanges, selling pressure tends to drop, which could support a move higher if momentum picks up.
Another bullish case was presented by analyst Niels, who pointed out that the M2 money supply just hit a new all-time high.
Historically, every time this has happened, Bitcoin has followed up with a new high of its own within 8 to 12 weeks.
Based on that pattern, Niels believes the chances of Bitcoin reaching a fresh all-time high by April or May are pretty strong.
A chart shared by the analyst suggested a high of around $123,000 by mid-July.
Over the short term, Bitcoin is now testing a key level around the $88,000–$89,000 range—the 21-week EMA, which is often seen as critical support in bull markets.
According to analyst Rekt Capital, if BTC can reclaim this area as support, it could open the door for a breakout toward $93,500.
When writing, Bitcoin was changing hands at $87,743, up 3% in the past 24 hours.
Altcoin market reacts to Trump
Altcoin markets saw a brief spike in activity after U.S. President Donald Trump praised the meme token Official Trump (TRUMP) in a post on Truth Social.
The total altcoin market cap briefly jumped to a daily high of $1.28 trillion but quickly gave up those gains, slipping back to $1.24 trillion by late Asian trading hours on Monday.
The altcoin season index dropped a point to 17.
The leading gainers for the day were:
SPX6900
SPX6900 (SPX) rose 25% over the past day to a three-week high of $0.629 at press time while its market cap was seated at $580 million.
Its daily trading volume jumped 146% over the period to $42.52 million, a sign of heightened interest among traders.
Source: CoinMarketCap
Most of the gains came after analyst Murad, who has over 716.1k followers on X, shilled SPX, which he believes could have the same potential as BTC or top meme coins like SHIB or DOGE since their launch.
Some of these gains also came from a spike in demand from derivatives traders, with open interest in the futures market jumping 27% from the previous day to $25.09 million.
The weighted funding rate also flipped positive, suggesting most of these traders were bullish on its long-term potential.
Fartcoin
Over the last 24 hours, Fartcoin (FARTCOIN) rallied 24% to an intraday high of $0.631 with its market cap rising to $610 million.
The memecoin’s daily trading volume stood at over $217 million up 58% over the period.
Source: CoinMarketCap
FARTCOIN’s gains today were part of a broader meme coin rally, with the market surging 9.4% after President Donald Trump posted about TRUMP on Truth Social, which helped spark the momentum.
Meanwhile, on the 1-day chart, FARTCOIN is forming a rounded bottom pattern, a gradual, U-shaped curve that often signals easing selling pressure and a shift in market sentiment.
Sometimes, this pattern sets up a cup and handle formation, which can lead to a strong and sustained bullish trend.
Render
Render (RENDER) jumped 15.7% in the past day, trading at $3.85 at the time of writing.
The price surge came with a big spike in daily trading volume, which shot up from $36.5 million to $120 million.
Source: CoinMarketCap
Today’s gains came following a major update to the Render Network’s generative AI tools, introducing a sleek new interface, streamlined workflows, and more powerful GenAI models.
It also added direct image-to-video integration and enhanced image-to-image capabilities, making it easier for creators to generate and evolve content.
Additionally, the announcement of RenderCon 2025, scheduled for April 15 at Nya Studios in Hollywood, has boosted investor interest.
The inaugural in-person conference will explore the future of media, technology, and art, featuring a full day of talks and panels on emerging trends in GPU rendering across various industries, including film, VFX, virtual production, and more.
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