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Why is Bitcoin suddenly up 8% at $77,000, with Ether and XRP rallying along?

1 mins read ByJai HamidJai Hamid
Bitcoin tumbles below $88,000 yet again ahead of markets open for the week
  • Bitcoin jumped 8% past $77,000, while open interest climbed to $122.46 billion and liquidations surged to $497.40 million, showing traders are piling in fast.
  • Ether rose 8% to $2,350, XRP gained 4% to $1.40, and Solana added 6% to $86.30, pointing to a broad crypto move rather than a Bitcoin-only spike.
  • Crypto momentum is building with the RSI still at a neutral 57.74 and the Altcoin Season Index at 34, which suggests the rally is heating up but has not yet turned into full risk-on mania.

Live Reporting

23:17 Stocks climb again as Nvidia extends its run and oil swings lower

The S&P 500 rose 1.18% to close at 6,967.38. That left the index less than 1% below its 52-week high. The Dow Jones Industrial Average gained 317.74 points, or 0.66%, to finish at 48,535.99. The Nasdaq Composite climbed 1.96% and ended at 23,639.08.

Nvidia stayed at the center of the move. The stock has now gained more than 18% over the past 10 days, marking its longest winning streak since another 10-day run in 2023.

On Tuesday alone, Nvidia rose 3.8%. Even after that jump, the stock was still trading about 8% below its October record high of $212.19, adjusted for the company’s 10-for-1 stock split in 2024.

The latest leg higher came a day after Nvidia pushed back on market chatter that it was trying to buy a major PC maker.

In a statement on Monday, the company said it was not in discussions to acquire any PC maker. Dell and HP Inc. had both climbed on those claims on Monday, then gave back some of those gains early on Tuesday.

Nvidia also used Tuesday to roll out a new family of open-source models called Ising, which the company said is meant to help speed up adoption of quantum computing.

The stock’s broader rally is happening against the backdrop of strong demand for AI chips, with companies including Meta, Amazon, Google, and Microsoft continuing to buy Nvidia’s hardware.

West Texas Intermediate crude fell 7.87% to settle at $91.28 a barrel. Brent crude dropped 4.6% to settle at $94.79.

15:30 Strategy turns positive again as Bitcoin pushes above its average cost and lifts crypto-linked stocks

Strategy moved back into profit as Bitcoin unexpectedly broke above $77,000, putting the company’s giant treasury bet back in positive territory.

As of April 14, 2026, Strategy’s Bitcoin reserve value stood at $59.29 billion, tied to holdings of 780,897 BTC. The company’s average purchase price was $75,577, leaving the position up 0.46%, or about $272.43 million.

The data also showed 106 purchase events since Strategy started.

bitcoin
Source: Strategy

Broader long-term charts still showed a split picture between the token and the stock. Bitcoin was trading at $75,926, or about 1.27 times above its 200-week moving average of $59,712.

Its one-year WMA change was +30.44%. Strategy stock, by contrast, was at $141.89, which put it at roughly 0.94 times below its 200-week moving average of $151.05, even with a much bigger one-year WMA change of +60.12%.

Crypto-linked equities were broadly higher on the day. Strategy rose 7.65% to $142.48. Coinbase gained 6.33% to $185.58, while Robinhood climbed 9.99% to $78.83. Circle added 10.37% to $108.91, and Galaxy Digital rose 7.29% to $24.14.

Mining names also moved up with the rally in Bitcoin. IREN gained 8.22% to $46.61. Riot Platforms rose 7.37% to $18.65. Cipher Digital added 6.78% to $18.96.

Hut 8 climbed 4.92% to $73.19, MARA Holdings rose 4.49% to $10.82, and CleanSpark added 7.43% to $11.56. Bitdeer rose 7.6% to $12.10, Bitfarms jumped 10.05% to $2.35, and HIVE Digital gained 11.75% to $2.42.

Elsewhere in the sector, MercadoLibre rose 1.35% to $1,856.57, Block gained 1.88% to $65.43, PayPal added 0.78% to $47.88, GameStop rose 2.39% to $23.96, and Metaplanet climbed 6% to $2.12.

A few names lagged the move, with Nexon down 4.06% to $16.07, Alliance Resource Partners off 2.88% to $25.64, and Nano Labs down 0.98% to $3.04.

14:07 Citi and BlackRock turn more bullish on U.S. stocks as war fears start to ease

U.S. stocks are drawing fresh support from big Wall Street firms as investors bet the worst of the U.S.-Iran shock may not last.

Late on Monday, Citigroup lifted U.S. equities to overweight from neutral. The bank said it still sees room for stocks to rise into year-end, based on the view that the conflict will eventually cool down.

Beata Manthey wrote that Citi still expects upside by the end of the year if the U.S.-Iran war moves toward a stop. She also said the hit to consumer spending, inflation, and Federal Reserve rate thinking looks manageable as long as the current ceasefire path leads to a broader easing in fighting over the next few weeks.

The market has already shown that kind of resilience. On Monday, the S&P 500 closed at 6,886.24, wiping out the losses it had taken since the conflict began.

Earlier in the March selloff, the index had come close to correction territory, falling as much as 9.1% from the record close it set in January.

Citi was not alone. On Monday, BlackRock also raised its view on U.S. stocks to overweight from neutral. The firm said two things pushed it back toward risk.

One was clear evidence that flows through the Strait of Hormuz could reopen. The other was better visibility that the broader macro damage was being kept in check.

Inside the market, Citi is pointing investors toward materials, health care, and technology.

01:02 Oracle leads a sharp rebound in software stocks on the back of Bloom investment

Oracle jumped nearly 13%, giving the stock its strongest session since September, as battered software names bounced back from losses tied to worries that artificial intelligence disruption was hurting the group.

The rally spread across the sector. Adobe climbed more than 6%. Salesforce rose 5%. ServiceNow, HubSpot, and Workday each gained about 7%.

Cybersecurity names moved higher too. Tenable and SentinelOne both added more than 7%, while CrowdStrike advanced 6%.

A big part of Oracle’s move came from its growing tie-up with Bloom Energy. On Thursday, Oracle received a warrant that gives it the right to buy as many as 3.53 million Bloom shares at $113.28 each, which works out to a total potential investment of $400 million. That warrant came under an agreement first announced in October.

After the market closed on Monday, Oracle and Bloom said they were expanding an earlier partnership. Under the updated deal, Oracle has contracted for 1.2 gigawatts of capacity from Bloom.

That announcement sent Bloom shares up 15%, pushing the stock to nearly $203. At that level, the gap between the market price and Oracle’s warrant price translated into about a $316 million paper gain for Oracle. The company has until October 9 to exercise the warrant.

The partnership could get even bigger from here. In Monday’s statement, the companies said Oracle plans to buy as much as 2.8 gigawatts of Bloom systems in total. So far, it has locked in 1.2 gigawatts, and the deployment is expected to be completed in 2027.

The relationship between the two companies started earlier. In July, Bloom said it would begin supplying power to Oracle’s U.S. data centers within 90 days.

00:50 Derivatives traders were leaning the wrong way as Bitcoin climbed

Bitcoin kept moving higher inside a short-term bullish channel, climbing from $63,000 on February 5 to almost $73,200 on February 14. But under the surface, the derivatives market was telling a very different story.

The 30-day simple moving average of Binance open interest for BTC-USD fell sharply during that same stretch. It dropped from $1.9 billion to $1.19 billion, showing that leverage was pulling back even as price pushed up.

bitcoin stocks market
Surce: CryptoQuant

That disconnect showed up even more clearly in positioning data. After the aggressive deleveraging event in early October 2025, when XRP perpetual open interest crashed from 7 billion XRP to 2 billion XRP, a 71% collapse, positioning kept shrinking. Since then, open interest has fallen another 25% to 1.5 billion XRP.

At the same time, retail traders were leaning bearish. Bitcoin funding rates stayed negative across major venues, with all-exchange funding at -0.009% and Binance funding at -0.007%. That usually points to traders crowding into short positions and paying to stay there, even as Bitcoin kept rising amid market nerves tied to the Middle East war.

Liquidation data showed who got caught. On Binance over the last 24 hours, short liquidations reached $5.25 million, while long liquidations came in at $2.01 million. That is a notable gap, especially in a period the market was still treating as relatively low volatility.

Ethereum told a different story. Over the past two days, the Coinbase Premium Index for Ether jumped to about 0.055, its highest level since October 2025, before easing back to roughly 0.006.

That matters because the Coinbase Premium Index is closely watched as a gauge of U.S. institutional demand. When Ether trades at a higher price on Coinbase than on Binance, it usually signals heavier buying from bigger investors.

The move to 0.055 pointed to a strong burst of institutional liquidity coming into Ether. The pullback to around 0.006 suggests that premium cooled after that rush.

00:20 Crypto jumps as Wall Street steadies before 2nd day of Q2 earnings

Bitcoin has unexpectedly surged by 6.5% on the day to trade above $75,000 at the time of writing.

Ether rose by 8% to hit $2,350, XRP gained 4% to hit $1.40, while Solana added 6% and traded at $86.30 at press time, according to Coinglass data.

In derivatives, crypto open interest surged to $122.46 billion, up by 7.95%, while liquidations hit $497.40 million, up by 78.91%.

Outside crypto, the broader market was steady heading into Tuesday. S&P 500 futures were up 0.06% on Monday night, Dow Jones Industrial Average futures rose 10 points, or 0.02%, and Nasdaq-100 futures added nearly 0.2%.

That followed a strong regular session where investors looked past the breakdown in weekend peace talks between the U.S. and Iran and held on to the view that some kind of deal could still happen.

Donald Trump claimed on Monday, “We’ve been called by the other side.” He also said, “They’d like to make a deal very badly.”

Tech stocks led the way. The State Street Technology Select Sector SPDR Fund, known as XLK, jumped about 2%, while the S&P 500 rose 1%. Monday’s advance wiped out the index’s losses since the Iran war began.

Investors also brushed off another jump in energy prices. West Texas Intermediate crude settled up 2.6% at $99.08 a barrel, while Brent rose more than 4% to $99.36. Oil moved higher after the U.S. began a blockade in the Strait of Hormuz.

Now attention is shifting to Tuesday’s earnings slate, with results due from JPMorgan Chase, Johnson & Johnson, Wells Fargo, and Citigroup.

In metals, gold is trading at $4,780 an ounce at press time, recovering most of the 0.6% it lost over the previous two sessions. Even after a moderate rebound in recent weeks, gold is still down about 10% since Trump’s war began on February 28th.

What to know

Bitcoin, Ether, XRP, and Solana are rallying as traders lean into risk again, with steady stocks, gold, and hopes for a U.S.-Iran deal helping the market.

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