Cryptocurrency Market Analysis [March 24]

2026 year 3 month 23 day: Crypto Asset Market Update

Following President Donald Trump’s announcement that the U.S. military will delay its attack plan on Iran’s power plants and major energy infrastructure by 5 days, Bitcoin (BTC) prices rebounded strongly and surpassed the $71,000 level.

Bitcoin daily chart

In a post on his own SNS “Truth Social,” President Trump said the decision was based on a “constructive dialogue” with Iran and a “constructive diplomatic engagement,” and formally instructed the Department of Defense to postpone the attack.

As of the close on March 23, BTC outperformed major financial benchmarks, rising by +4.4% from the previous day. This outperformance far exceeded tech-heavy QQQ (+1.8%) and the S&P 500’s SPY (+1.5%), and stood out even against gold, which had been flat.

However, a more important signal lies behind the surface price rise. Buy orders were widespread and gave a constructive impression across markets, but the leadership of the rally varied by sector. Thus this session reflected a selective movement different from a simple “risk-on” where all risk assets are bought indiscriminately.

Ethereum daily chart

The sectors with especially high crypto market beta (market correlation) are as follows.

AI top 10 names: +11.6%

Gaming top 20 names: +9.9%

DePIN (Distributed Physical Infrastructure Networks) top 20 names: +7.3%

Bitcoin-related News

MicroStrategy, led by Michael Saylor, announced a new enormous fundraising plan totaling $42 billion.

The company had added 1,031 BTC (about $77 million) last week alone, and Saylor reaffirmed on his SNS that the “Orange March (Bitcoin’s advance) continues.”

Ethereum-related News

Bitmine Inc. added about 65,000 ETH to its holdings last week, bringing total holdings to about 3.9% of all ETH in circulation, amounting to 4.66 million ETH.

Notably, 3.14 million ETH has been allocated to staking, generating roughly $184 million in annual rewards.

Additionally, ancient whales (large holders) that held $538 million at their peak in 2021 have resumed activity. This week alone they purchased $195 million and added $30 million more, highlighting a bullish stance among long-term holders.

Solana (Solana) Situation

$SOL on-chain stablecoin market cap has reached a new all-time high. More noteworthy than the data itself is the market’s qualitative changes: who is betting, where funds are flowing from, and what the next drivers will be.

Prominent trader Eugene has turned bullish, predicting SOL will reclaim the $100 psychological level.

Recent Market Indicators Overview

S&P 500: -1.51%

Financial Infrastructure Transformation and “On-Chain”

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