Bitcoin Surges to $72,387 as Oil Drop Sparks Market Rally

Bitcoin climbs past $72,387 as oil prices drop, boosting risk appetite and lifting major altcoins.

2026-03-13

Bitcoin rose to $72,387, up 2.86% from the prior session, with its market share at 58.84%. Major altcoins also advanced: Ethereum climbed to $2,129 (up 3.37%), XRP hit $1.42 (up 2.62%), and Solana jumped 4.04% to $90.40. Binance Coin traded at $668 (up 2.47%), Cardano around $0.275, Dogecoin at $0.099, while TRON slipped to $0.288 and HYPE fell to $37.30.

The decline in oil prices acted as the major catalyst, with Brent crude plunging roughly 30% within 24 hours after signals of a war-end with Iran. The drop revived global risk appetite and helped Bitcoin breach the $70,000 level, while short squeezes and institutional buying accelerated the rally.

Across the market, forced liquidations totaled about $327 million. MicroStrategy added to its Bitcoin holdings, marking the year’s second-largest BTC purchase, and BitMine bought ETH worth $122 million, underscoring renewed treasury activity. The Crypto Fear and Greed Index stood at 22, keeping the market in the fear zone ahead of the Federal Reserve’s policy decision due on March 18.