The volatile roller-coaster returned to the crypto markets again after bitcoin’s ATH, and the asset dropped by more than $5,000 a day later. While most altcoins have stalled on a 24-hour scale, Solana has gone on a tear once more by breaking above $200.
Bitcoin Lost $5K
The news that the US will finally have its own Bitcoin ETF, even if it’s a Futures one, for now, brought significant gains for the primary cryptocurrency. BTC traded below $58,000 last week when the first reports emerged but quickly skyrocketed above $60,000.
It kept climbing further, which culminated on October 20th. Bitcoin broke its April ATH of $65,000 and charted a new one at approximately $67,000.
After this peak, though, the bears came to play and pushed the asset south. The situation worsened yesterday when bitcoin dumped all the way down to $61,800 (on Bitstamp), but it went to even four digits on some exchanges in a flash crash event.
As of now, BTC has recovered some ground and stands above $63,000. Its market capitalization sits around $1.2 trillion, while the dominance over the altcoins is at 46%.
Alts Stall: SOL Doesn’t
The alternative coins also saw multi-month highs against the dollar in the past few days, but most have retraced slightly since yesterday. Ethereum came just inches away from a new ATH but is now down to just over $4,100.
Binance Coin, Cardano, Ripple, Dogecoin, Uniswap, and Litecoin have also seen minor losses. In contrast, Polkadot and Avalanche have charted slight gains. Terra has surged by more than 7%, but Solana has stolen the show again with a 9.5% increase in a day.
Moreover, SOL is up by 30% in the past week and has spiked above $200 for the first time in a few months.
The cryptocurrency market cap, which charted a new record at over $2.650 trillion, has lost more than $60 billion since then and is currently just shy of $2.6 trillion.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Credit: Source link