Crypto rebounds: Bitcoin nears $72k, Ethereum $2,200; altcoins follow suit

On a weekly basis, the flagship token Bitcoin has surged 9.13 per cent from $65,969.78 recorded on March 8, while Ethereum posted a gain of nearly 11 per cent from $1,936.60 on the same date

The cryptocurrency markets remained buoyant in trade on Friday, with Bitcoin holding above $71,500 after crossing the $70,000 resistance level, while Ethereum stayed above $2,100. On a weekly basis, the flagship token Bitcoin has surged 9.13 per cent from $65,969.78 recorded on March 8, while Ethereum posted a gain of nearly 10.88 per cent from $1,936.60 on the same date.

 

The sentiment extended to the broader altcoin space, with popular tokens such as BNB, XRP, Solana, Cardano, Hyperliquid, and Tron trading higher by up to 5 per cent on Friday.

 

Analysts attributed the gains to US inflation and jobless claims data coming in line with expectations, coupled with steady institutional demand.

 

 

“BTC moved past $71,000 after US inflation and jobless claims were in line with expectations, but the data offered little new momentum for markets. Traders remain cautious, with futures funding rates around 7 per cent, showing that many participants are still betting on downside. The futures premium also remains below the typical 5 per cent bullish level, suggesting limited risk appetite. However, steady institutional demand is helping support prices, with BTC ETFs attracting roughly $540 million in inflows over the past four days,” said CoinSwitch Markets Desk.

Bitcoin near $72,000

At last check, Bitcoin was trading with a gain of 3.03 per cent at $71,524, with a 24-hour trading volume of $45.3 billion. The digital token fluctuated between $69,370 and $71,995 over the same period, according to CoinMarketCap data. The total market cap of Bitcoin stood at $1.43 trillion, cementing its position as the largest cryptocurrency globally.

 

On Bitcoin’s current movement, Riya Sehgal, research analyst at Delta Exchange, said it reflects a short-term recovery in sentiment. Technically, Bitcoin, She believes, is attempting to stabilise above the $70,000 area, which is emerging as a near-term support zone. However, the broader trend remains range-bound unless the price decisively breaks above the $75,000–$78,000 resistance band. 

 

"A move above that zone could confirm renewed bullish momentum, while a break below $68,000 may expose the market to a deeper pullback toward the mid-$60,000 region,” said Sehgal.

Ethereum eyes $2,600–$2,700

Ethereum, meanwhile, is showing relative strength compared to the broader market. The asset has managed to hold the psychologically important $2,000 support level, while institutional flows through spot ETF products continue to build. At last check, ETH was trading with a gain of 4.17 per cent at $2,110 on CoinMarketCap. The 24-hour trading volume of Ethereum rose to $23.72 billion as the token oscillated between $2,025 and $2,147 during the same period.

 

From a technical standpoint, Sehgal noted that the immediate resistance for Ethereum sits near $2,200. “A sustained breakout above this zone could trigger momentum toward the $2,600–$2,700 range, while failure to maintain support near $1,800 could invite renewed downside pressure,” she said.

Altcoins gain

The bullish sentiment extended to the altcoin space as well. Among major altcoins, Pi (PI) led the gains, rising over 30 per cent on CoinMarketCap. Other notable gainers included Artificial Superintelligence Alliance (FET), Render (RENDER), River (RIVER), Bittensor (TAO), Midnight (NIGHT), OFFICIAL TRUMP (TRUMP), Virtuals Protocol (VIRTUAL), Pump.fun (PUMP), Sui (SUI), Ethena (ENA), NEAR Protocol (NEAR), Algorand (ALGO), Sei (SEI), Bonk (BONK), Aave (AAVE), Ondo (ONDO), Curve DAO Token (CRV), Cardano (ADA), Arbitrum (ARB), Pudgy Penguins (PENGU), Pepe (PEPE), Avalanche (AVAX), Worldcoin (WLD), VeChain (VET), Dogecoin (DOGE), Dash (DASH), Quant (QNT), Solana (SOL), and Chainlink (LINK), which were trading higher by up to 21 per cent.

 

In contrast, select tokens were under pressure. Among them, Kite (KITE), Canton (CC), Toncoin (TON), PAX Gold (PAXG), Tether Gold (XAUT), DeXe (DEXE), and UNUS SED LEO (LEO) were trading lower by up to 7 per cent on CoinMarketCap.

 

Overall, the crypto markets, analysts said, appear to be in a consolidation phase, with improving institutional participation gradually counterbalancing macro headwinds such as rising yields, geopolitical tensions, and cautious global risk appetite.