A broad-based rally across digital assets is building momentum, with major tokens posting strong weekly gains as institutional inflows return and markets position ahead of a crucial Federal Reserve decision.
Ethereum is leading the advance, rising more than 13% over the past seven days to around $2,316. XRP has climbed roughly 11% to $1.53, while Solana is up about 9.7% to $93.92. Dogecoin has gained close to 9.5%, reclaiming the $0.10 level, and BNB has added around 5% to $676. The move marks the most widespread rally since before the Iran war began.
Bitcoin briefly spiked to $75,912 early Tuesday before easing back to roughly $74,372. While the pullback highlights near-term volatility, the broader weekly trend across the market remains firm.
The earlier push above $75,000 was largely driven by derivatives positioning rather than fresh spot demand. The unwinding of large $60,000 put options forced market makers to buy bitcoin as they rebalanced exposure, creating a temporary surge in price. However, the subsequent rejection below $74,400—a former support level from April 2025—suggests traders remain cautious about chasing the rally without a clear catalyst.
Still, underlying institutional demand continues to improve. Mark Pilipczuk noted that spot bitcoin ETFs saw approximately $767 million in net inflows last week, marking a third consecutive week of positive flows and a sharp reversal from the more than $3 billion in outflows earlier this year.
Bitcoin’s relationship with gold is also shifting. The SPDR Gold Shares has returned about 16% year-to-date through mid-March, while the iShares Bitcoin Trust had been down roughly 19% over the same period. That gap has narrowed significantly, with bitcoin outperforming gold by more than 13% since early March. The 90-day correlation between the two has also turned positive, reviving the “digital gold” narrative.
All eyes are now on the Federal Reserve meeting, which concludes Wednesday. Markets are pricing in a high probability that rates will remain unchanged in the 3.5% to 3.75% range, making the policy decision itself largely expected.
Instead, attention will focus on guidance from Jerome Powell. With oil prices above $100 fueling stagflation concerns and signs of softness emerging in the labor market—including February’s job losses—the Fed faces conflicting pressures. How Powell frames this balance could play a key role in determining the direction of risk assets, including cryptocurrencies, through the remainder of March.
