Bitcoin briefly climbed above $74,000 on March 4, marking its first return to that level in roughly a month. The world’s largest cryptocurrency gained about 8% over 24 hours after weeks of trading below the $70,000 threshold.
Ethereum followed with a jump of more than 9%, pushing past $2,200 before easing slightly. Among major altcoins, Dogecoin surged over 15% to move back above $0.10, while Zcash rose around 13% to trade near $250, rebounding from levels close to $200 in early February.
Spot Bitcoin ETF Inflows Support Momentum
Institutional flows appear to be reinforcing the rally. More than $680 million has entered U.S. spot Bitcoin exchange traded funds so far this week, signaling renewed demand despite ongoing geopolitical uncertainty. Market observers note that Bitcoin has recently outperformed traditional benchmarks, including major U.S. equity indices and gold.
Recent economic data from the Federal Reserve’s Beige Book described moderate growth across several regions but highlighted rising costs and cautious consumer spending.
Crypto-Linked Stocks Outperform Broader Market
Crypto-related equities posted outsized gains. Shares of Coinbase climbed roughly 15% to around $210. Gemini surged 34% to about $8.70 after recently hitting record lows.
Other digital asset firms, including Galaxy Digital and mining companies such as Hut 8, also recorded double-digit percentage gains, reflecting broader optimism across the crypto sector.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.