Bitcoin surged to $76,000 in early Tuesday trading on Coinbase, marking its highest level since the February 6 market crash and reigniting optimism across the crypto market.
The flagship cryptocurrency also secured a key technical milestone, closing its daily candle above the $74,500 level, previously a critical low from April 2025. Analysts say this breakout could signal renewed upward momentum, with traders closely watching whether Bitcoin can sustain its position above this threshold.
Bitcoin did it.
It just closed the daily above the $74,500 April 2025 low.
With a very strong OBV breakout.
It’s not bearish.
To me, this daily close is a signal that the market wants higher.
Hold at these levels for a little longer and $80k should come in short order.… https://t.co/PX1fHGqyl1 pic.twitter.com/p9sFrgMKmv
— Sykodelic 🔪 (@Sykodelic_) March 17, 2026
Analysts signal strong upside momentum
Market analyst Sykodelic described the daily close above $74,500 as a clear indication that “the market wants higher.” According to the analyst, holding current levels could quickly push Bitcoin toward the $80,000 mark. However, a drop back below $72,000 may weaken bullish sentiment and open the door for further downside.
Another analyst, Colin, echoed the optimism, calling the current move the “early stages” of a broader breakout. He projects a potential relief rally peaking around $80,600, with a wider resistance zone between $79,000 and $86,000 levels that previously acted as support during late 2025.
Additional technical confluence has been identified around $83,000–$84,000, where key indicators such as the Bull Market Support Band and a significant CME gap align. Meanwhile, Bitcoin’s 200-week exponential moving average (EMA), currently near $68,000, continues to act as a strong support base.
Technical indicators and Altcoins join the rally
On-chain data is also reinforcing bullish sentiment. According to analyst Julio Moreno, Bitcoin’s Inter-Exchange Flow Pulse (IFP) has flipped back into positive territory, a signal historically linked to early phases of market expansion. This suggests that liquidity is once again flowing more actively across exchanges, often a precursor to sustained price growth.
Despite the rally, some caution remains. Analysts also note that Bitcoin could consolidate around the 200-week EMA before making a decisive move higher.
At the time of writing, Bitcoin was trading near $74,300, up 9% over the past week. Ethereum also posted strong gains, rising over 8% to hit $2,380, bringing its weekly surge to 17%.
Altcoins, including XRP, Cardano, Stellar, and Zcash, recorded their strongest performances in weeks, pushing the total crypto market capitalization to $2.65 trillion, its highest level since early February.
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