Published: 17 March 2026,06:31
Daily Market Analysis New
*Bitcoin surged above $75,000 for the first time in a month, while Ethereum jumped over 7%, reflecting strong risk-on sentiment.
*The rally was fueled by a short squeeze with ~$344M liquidations and sustained institutional demand, including strong ETF inflows and buying from MicroStrategy.
*Easing tensions around the Strait of Hormuz supported sentiment, while upcoming Federal Reserve decisions remain the key near-term catalyst.
Market Summary:
The cryptocurrency market staged a broad-based rally over the past 24 hours, with Bitcoin briefly topping $75,000 for the first time in a month, reaching an intraday high of $75,500. The move extends an eight-day winning streak from the $66,000 region, with BTC posting a 2.9 percent daily gain and 9.7 percent weekly advance. Major altcoins outperformed, reflecting renewed risk appetite across the digital asset complex. Ethereum surged 7.7 percent to above $2,300, its strongest weekly performance in months.
The move was amplified by a short squeeze, with $344 million in liquidations across derivatives markets, of which approximately 83 percent were short positions. This dynamic is consistent with the rally’s technical character—crowded shorts forced to cover as momentum accelerated.
The rally was underpinned by easing geopolitical tensions that had previously weighed on risk assets. Two tankers successfully transited the Strait of Hormuz over the weekend, the first such passages since hostilities began, raising hopes that the critical waterway may gradually reopen . Iran softened its rhetoric, and the U.S. signaled willingness for talks with Tehran.
Institutional demand remains robust, with Bitcoin ETFs recording approximately $2.8 billion in net inflows for March, reinforcing the institutional bid beneath the market. Strategy (formerly MicroStrategy) added to its holdings, acquiring another 3,015 BTC for $204 million .
Bitcoin previously consolidated between $68,500 and $73,900 and a decisive break above $73,900 would open a path toward $77,000, while a drop below $73,900 risks a test of $68,000 support.
For the remainder of the week, focus shifts to central bank decisions. The Federal Reserve concludes its two-day meeting tomorrow, followed by the European Central Bank gathering on March 18-19. Both will shape rate-cut expectations amid evolving inflation dynamics from energy markets. Geopolitical risks persist; renewed oil volatility could pressure risk assets if tensions flare. The near-term outlook is cautiously constructive provided Fed signals remain supportive and institutional flows continue, though elevated volatility is likely given macro and geopolitical crosscurrents.
Technical Analysis
Bitcoin has established a clear uptrend trajectory, decisively breaking above its month-long range-bound structure. The move represents a significant technical achievement, with the cryptocurrency sustaining prices above the $73,900-$74,000 resistance zone that had previously capped multiple upside attempts.
The bullish bias is strongly supported by momentum indicators. The Relative Strength Index has climbed into overbought territory near 76, reflecting robust buying pressure, while the Moving Average Convergence Divergence continues to trend higher following a bullish crossover, confirming that positive momentum is accelerating.
For the short-term structure to remain intact, Bitcoin must sustain above the immediate support level at $74,160. This threshold represents the breakout confirmation zone—a hold above this level would keep the uptrend valid and position the cryptocurrency for a challenge of the next resistance near $77,000. A decisive break above that level would open a path toward the $80,000 region.
Conversely, a failure to hold above $74,160 would suggest the breakout lacks conviction, exposing Bitcoin to a retest of the prior range resistance near $72,500 and potentially the $70,400-$71,000 support zone.
Resistance Levels: 76,633.60, 79,133.00
Support Levels: 74,120.00, 71,525.00
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Trading Platforms
Learn
About PU Prime
Corporate
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Thank You for Your Acknowledgement!
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
Thank You for Your Acknowledgement!
