The post Bitcoin Price Breaks Above 50-day SMA as Analysts See More Gains for BTC appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) found fresh strength during the early Asian trading hours on Monday as bulls eyed further short-term gains.  Key takeaways: Bitcoin price rises to a six-week high of $74,400 on Monday, liquidating $300 million in shorts. The 50-day moving average above $71,120 is a key support level to watch for BTC/USD going forward. Bitcoin leads market in new relief bounce Data from TradingView showed 2.5% daily BTC price gains, with BTC/USD rising as high as $74,400 for the first time since Feb. 4. BTC/USD one-hour chart. Source: Cointelegraph/TradingView Ether (ETH), the largest altcoin by market capitalization, was trading at $2,250 at the time of writing, up 7% over the last 24 hours. Fifth-placed XRP (XRP) has gained nearly 5% over the last day to trade just above $1.48. Solana (SOL) has also posted significant gains among the top 10 cryptocurrencies, up 6% over the same period. As a result, the global crypto market capitalization is up 4% over the day to $2.49 trillion on Monday. Performance of top-cap cryptocurrencies: Source: CoinMarketCap “Bitcoin pumped $1,800 in just 30 minutes, hitting a 40-day high of $74,300,” analyst Bull Theory said in the latest post on X, adding: “It’s surprising how risk assets are performing better than safe-haven assets like gold and silver during an active war.” Bitcoin’s relief rally is accompanied by significant short liquidations across the crypto market totaling $300 million over the last 24 hours. Meanwhile, Bitcoin futures open interest (OI) continued to rise, with monitoring resource Coinglass showing a 6% jump to $49.2 billion in the past 24 hours. Commenting on the data, Coinglass said that the same pattern of the OI rising in tandem with the price “preceded the last volatility spikes,” adding: “New fuel is building again.” Bitcoin OI vs. price on Binance. Source: X/CoinGlass  Bulls…

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Filed under: News - @ March 17, 2026 4:23 am