A broad rally across digital assets is gaining momentum, with major tokens posting strong weekly gains as institutional inflows rebound and markets position ahead of a pivotal Federal Reserve decision.
Ethereum is leading the advance, climbing more than 13% over the past seven days to around $2,316. XRP has risen 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 breadth of the move marks the most widespread rally since before the Iran war began.
Bitcoin briefly surged to $75,912 early Tuesday before easing back to around $74,372. While the intraday reversal highlights near-term volatility, the broader trend remains constructive.
The earlier breakout 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, pushing prices higher. However, the subsequent rejection below $74,400—a level that previously acted as support in April 2025—suggests traders are reluctant to chase gains without a clear catalyst.
Even so, institutional flows are turning supportive. Mark Pilipczuk noted that spot bitcoin ETFs attracted roughly $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 seen earlier this year.
Bitcoin’s relationship with gold is also shifting. The SPDR Gold Shares has returned around 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 assets has also flipped from negative to 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 decision itself largely expected.
Instead, attention will focus on guidance from Jerome Powell. With oil prices above $100 fueling stagflation concerns and signs of weakness emerging in the labor market—including February’s job losses—the Fed faces competing pressures. How Powell frames this balance could play a key role in shaping the direction of risk assets, including cryptocurrencies, through the remainder of March.
