The volatile roller coaster returned to the crypto markets after Bitcoin’s ATH, and the asset fell 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 $ 5,000
The news that the United States will finally have its own Bitcoin ETF, even though it is a Futures, has so far brought significant gains for the major cryptocurrency. BTC traded below $58,000 last week when the first reports emerged but quickly skyrocketed above $60,000.
It continued to climb, which peaked on October 20. Bitcoin broke its April ATH of $65,000 and charted a new one at approximately $67,000.
After that peak, however, the bears came to play and pushed the trump 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 is above $ 63,000. Its market capitalization sits around $1.2 trillion, while the dominance over the altcoins is at 46%.
Alternative stall: SOL does not work
Alternative coins have also seen multi-month highs against the dollar in the past few days, but most have retreated 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 also suffered minor losses. In contrast, Polkadot and Avalanche have charted slight gains. Terra jumped over 7%, but Solana again stole the show with a 9.5% increase in one 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’s market cap, which broke a new record at over $ 2.6 trillion, has lost over $ 60 billion since then and is currently at just under $ 2.6 trillion.
