Due to falling oil prices, the stock market rebounded, and cryptocurrencies surged across the board. The Fear & Greed Index, which reflects market sentiment, has now risen back to a neutral level of 45. Bitcoin (BTC) reached a high of $74,899 this morning, attempting to challenge the psychological barrier of $75K. Ethereum (ETH) surged over 6% to $2,348. The NVIDIA GTC conference also drove a significant rise in AI-related tokens.
Oil prices fell below $100, prompting a stock market rebound.
U.S. Secretary of the Treasury Janet Yellen told CNBC on Monday that the U.S. has allowed Iranian oil tankers to pass through the Strait of Hormuz. Following this news, oil prices dropped. Additionally, The Wall Street Journal cited officials saying that the U.S. will soon announce a coalition of multiple countries to escort ships passing through the Strait of Hormuz. President Trump also encouraged other nations to participate.
The decline in oil prices led to a stock market rally, but trading volume was not strong. Bulls generally want to see increased volume to confirm their upward momentum. On Monday, trading volumes on the NYSE and NASDAQ were well below average.
NVIDIA GTC conference boosts AI tokens.
The S&P 500 index posted its best single-day performance since February, led by technology stocks. NVIDIA (NVDA) shares rose 1.7%. Jensen Huang stated that by the end of 2027, AI chip revenue is expected to reach at least $1 trillion.
(NVIDIA GTC 2026 | Jensen Huang: NVIDIA redefines computing, data center scale moving toward trillion-dollar markets)
AI-related tokens like FET (+24%) and NEAR surged significantly. Huang predicted a substantial growth in chip demand during his speech. Meanwhile, capital shifted toward Layer 1 and privacy-focused sectors (e.g., ZEC, +24%), further driving the overall market upward.
Bitcoin attempts to challenge $75K.
Cryptocurrencies surged across the board, with total market cap increasing by 3.04% to $2.56 trillion. The Fear & Greed Index, which gauges market sentiment, has risen back to a neutral level of 45.
Bitcoin reached a high of $74,899 this morning, trying to break the psychological barrier of $75K. U.S. spot Bitcoin ETFs have seen net inflows for three consecutive weeks. Last week, net inflows into 12 U.S.-listed spot Bitcoin ETFs exceeded $767 million. So far, the total net inflow for March has reached $1.3 billion.
(Breaking $74K for Bitcoin, ETFs see three weeks of net inflows, is the crypto market turning optimistic?)
MicroStrategy bought nearly $1.6 billion worth of Bitcoin last week, the company’s largest purchase since January. MicroStrategy (MSTR) stock rose 5.6% yesterday.
This article, “Bitcoin challenges $75K, NVIDIA GTC drives AI token surge,” first appeared on Chain News ABMedia.
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