Bitcoin’s price surged past $86,000 on Monday, kicking off the week with a wave of gains across the crypto market.
The jump came as investors reacted to news that U.S. tariffs might not be as harsh as expected, and after the Federal Reserve confirmed plans for interest rate cuts this year.
As of 7am WAT, Bitcoin was up 3.2%, trading at $86,590, while Ethereum gained 2.3%, moving to $2,047. The total global crypto market cap grew by nearly 3% in 24 hours, now sitting at $2.84 trillion.
Other popular cryptocurrencies like XRP, Cardano, and Dogecoin also saw gains, rising between 2% and 3.8%, alongside stronger performances from Chainlink, Avalanche, Hedera, and Stellar, which grew by as much as 10%.
Bitcoin price surge to hit $90K?
The recent Bitcoin price surge is raising hopes for another rally. Experts say if Bitcoin breaks above the key resistance of $86,700, it could climb to $90,000.
“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 cap has now hit $1.727 trillion, with dominance rising to 60.73%. Trading activity also soared, with Bitcoin’s 24-hour volume spiking by 93% to $18.2 billion.
Meanwhile, stablecoins handled 94.74% of all crypto transactions, totaling $57.58 billion.
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Solana jumps 7% with strong momentum
Solana (SOL) led the way among altcoins, rising over 7% in the past 24 hours to trade above $139.
Investors were encouraged by reports that U.S. tariffs expected in April may include country exemptions and lighter charges, reducing global market fears.
The Federal Reserve’s commitment to cutting interest rates twice this year also gave crypto assets a boost.
“The Fed’s policy orientation could help Bitcoin achieve $110k before it retests $76.5k,” said Arthur Hayes, co-founder of BitMEX.
Solana is also seeing major growth on-chain. According to DeFiLlama, the total value locked (TVL) on Solana reached 54.87 million SOL, its highest level since June 2022.
Analytics firm Ali Charts also reported that 11.09 million wallets now hold SOL, setting a new record.
Quick facts to know
- $72 million in assets have recently moved from Ethereum to Solana
- Solana has 17 million weekly active wallets, compared to 1.8 million on Ethereum
- Binance wallet balances show renewed interest in SOL, reversing recent sell-offs
- Institutional players are stepping in. Two Solana futures ETFs (SOLZ and SOLT) launched on Nasdaq in March
- Franklin Templeton and VanEck have applied to launch spot Solana ETFs, signaling growing trust in the asset
Why the Bitcoin price surge matters
This Bitcoin price surge reflects growing confidence in crypto despite economic uncertainty. As Solana’s adoption and activity hit new highs, the broader market appears to be shifting from hype to real use.
For young investors, tech builders, and digital creatives, this could be the moment to start learning, watching, and maybe even joining the space.
