Bitcoin taps $74,000 as crypto market rally lifts Dogecoin, Coinbase and more

Bitcoin (BTC) briefly climbed above $74,000 on Wednesday, returning to the level for the first time in about a month as a broad rally spread across crypto markets and related equities.

The world’s largest cryptocurrency gained roughly 8% over the past 24 hours, according to The Block’s price data, after spending much of the past several weeks stuck trading below the $70,000 mark. Ether (ETH) also jumped over 9%, making a one-month high above the $2,200 level before pulling back slightly.

Among the top 50 digital assets by market cap, Dogecoin and Zcash posted some of the strongest gains.

Dogecoin (DOGE) jumped more than 15%, pushing the memecoin back above the $0.10 level while Zcash’s native ZEC token rose roughly 13% to around $250, recovering from prices near $200 in early February.

ETF inflows and macro backdrop

The reversal follows weeks of weakness across crypto markets. Research firm K33 noted earlier Wednesday that bitcoin had entered one of its most oversold weekly conditions on record after six consecutive weekly declines and five straight down months.

Some analysts say renewed institutional demand may also be supporting the rebound.

“Bitcoin has held up better than the Nasdaq, S&P 500 and even gold during the recent crisis,” said Nic Puckrin, co-founder of Coin Bureau. “That divergence is a positive sign.”

Puckrin pointed to more than $680 million in inflows into spot bitcoin exchange-traded funds so far this week as evidence that institutional investors may be treating bitcoin as a hedge during geopolitical turmoil.

However, broader economic signals remain mixed. The Federal Reserve’s latest Beige Book reported economic activity expanding at a slight to moderate pace across several U.S. regions, while noting rising costs and more cautious spending among lower-income households.

Crypto stocks jump

Crypto-linked equities surged alongside the market rally.

Coinbase (COIN) shares climbed roughly 15% to around $210. The move comes as CEO Brian Armstrong reportedly met with President Donald Trump ahead of a recent Truth Social post in which the president urged banks to reach an agreement with the crypto industry over the stalled CLARITY Act market structure bill.

Gemini (GEMI) jumped 34% to roughly $8.70 after recently falling to an all-time low below $6. Earlier this month, Mizuho analysts said much of the negative sentiment around leadership departures may already be reflected in the share price, reiterating a $26 price target.

Elsewhere, Galaxy Digital (GLXY) rose nearly 18% to around $24.40.

Crypto mining and infrastructure companies also moved higher. Bitfarms (BITF), IREN (IREN), American Bitcoin (ABTC), and Hut 8 (HUT) each gained roughly 13% on the day.