Bitcoin and other major cryptocurrencies climbed late Monday as short liquidations accelerated and macro sentiment improved. Bitcoin briefly touched $75,653 before falling back near $74,300, while Ethereum and XRP also posted solid gains. The move came with heavy liquidation pressure, fresh ETF inflows, and renewed debate over whether the rally can last.
Bitcoin gained about 4% over 24 hours and reached $75,653 around 10:00 p.m. ET on Monday, 16 March 2026, according to The Block’s price page. Hours later, it slipped to about $74,300. Ethereum rose 3.28% to $2,315 during the same stretch. XRP advanced 5% to $1.54, adding to the broader market rebound.
At the same time, total crypto liquidations reached roughly $609 million over the past 24 hours, based on Coinglass data. Short positions made up $485.6 million of that figure. Dominick John, an analyst at Zeus Research, told The Block that the latest move extended higher because short sellers got caught. He said squeeze-driven rallies usually fade without steady real demand.
Nathan Batchelor, managing partner at crypto trading data platform Biyond, gave a similar view to DL News. He said Bitcoin saw notable short liquidations around $73,000 to $74,000, which likely helped trigger the jump. Batchelor added that Biyond’s volatility models remained low. In his view, that points more to a stop-hunt than the start of a stronger breakout toward $80,000.
Even so, analysts did not tie the rebound only to liquidations. Some pointed to real buying activity and a steadier macro backdrop. Rick Maeda, research associate at Presto Research, told The Block that Bitcoin’s move toward $76,000 and Ethereum’s sharper rebound looked largely flow-driven. He cited renewed inflows into US spot bitcoin ETFs and continued corporate buying.
SoSoValue data showed US spot bitcoin ETFs brought in $767.3 million in net inflows last week. That marked a third straight week of positive flows. Spot ether ETFs also recorded $160.8 million in inflows over the same period. In turn, the fresh demand gave traders another reason to stay active.
Meanwhile, market sentiment improved modestly. The Crypto Fear & Greed Index stood at 28 late on Monday, 16 March 2026, still in fear territory but no longer in extreme fear after spending the previous week there.
Can ETF inflows and corporate buying keep Bitcoin near $76,000 once the squeeze loses force?
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Still, the rally has unfolded against a tense geopolitical backdrop. The text links the broader market mood to the war involving the US, Israel, and Iran. Iran’s blockade of the Strait of Hormuz has driven oil prices as high as $119 a barrel in recent weeks. The route carries a major share of Middle East oil shipments.
Iran also warned that oil could reach $200 unless hostilities stop. That threat has added another layer of uncertainty for risk assets. Maeda said easing geopolitical tensions and softer oil-driven inflation fears have helped support high-beta assets such as cryptocurrencies. Yet he warned that the rebound depends on whether the current flows continue.
JPMorgan analysts said on Friday, 13 March 2026, that oil prices staying above $90 a barrel for an extended period could trigger a 10% to 15% correction in the US stock market. That risk now sits beside crypto’s latest rebound.
Against that backdrop, Bitcoin has risen about 12% since the start of March 2026. Even so, several analysts now argue that short covering, not broad conviction, has done much of the lifting.
Bitcoin price climbed near $76,000 as heavy short liquidations, strong ETF inflows, and improved market sentiment lifted major cryptocurrencies. Ethereum and XRP also advanced, but analysts said the rally may depend on whether fresh demand continues and macro risks, especially oil-driven pressure, remain contained.