The crypto market entered its second day of rally on Thursday owing to institutional demand, especially amid the ongoing geo-political tensions surrounding Iran and Israel. Bitcoin price rose by three percent over the last day. At the time of writing, the most expensive crypto asset was trading close to $73,000, precisely at $72,992. Data by CoinMarketCap showed that Bitcoin’s current price is 7.2 percent higher than its recorded weekly average.
The market is shifting from a sell-off to stabilization after the early-year correction, market analysts told Coin Headlines. This change in the market sentiment can be attributed to Michael Saylor’s Strategy adding 3,015 Bitcoin between February 23 and March 1 to its corporate treasury. This week, U.S. President Donald Trump also pushed for lawmakers to accelerate work on the CLARITY Act, spiking optimism among investors.
Along with Bitcoin, Ether price also rose by 4.12 percent over the last day. With this, the asset’s value has climbed to $2,140.
“Technically, Bitcoin has regained the $72,000 level and short-term moving averages. A break above $76,000–$78,000, near large holders’ average cost basis, would signal stronger momentum. Ethereum’s move above short-term averages is positive, but $2,200–$2,300 remains key resistance,” said Riya Sehgal, research analyst at Delta exchange.
Notably, the $OKB token native to the OKX exchange rose by 45 percent in the last 24 hours to retail within the range of $110-$120. The change in this token’s price comes after NYSE’s parent company, the Intercontinental Exchange (ICE), made an undisclosed minority investment in OKX, bumping the exchange’s valuation to $25 billion.
As of Wednesday, the token was retailing at $78.16.
Source: CoinMarketCap
Meanwhile BNB, XRP, Solana, Dogecoin, and Cardano also registered small profits within the range of one percent to four percent as per CoinMarketCap. Gains for Monero, Chainlink, and Stellar also clocked gains of around four percent on the price chart.
The crypto market cap rose by 2.40 percent over the last day, bringing its valuation to $2.46 trillion on Wednesday.
Despite the 48-hour rally, the crypto fear and index score stays in the fear zone, at 29. This indicates that investors are still viewing the market cautiously.
Over 111,100 traders were liquidated in the last 24 hours with the total liquidations hitting $466.7 million, CoinGlass data showed on Thursday.