While bitcoin has remained relatively still around $48,000, some altcoins, such as Solana, have marked notable price drops.
After tapping a new 10-day high yesterday, bitcoin has calmed around the $48,000 mark. Apart from Avax, most alternative coins have charted losses in a day, including a massive 10% slump for the high-flyer Solana.
Bitcoin Stalls Around $48K
The past several days were going well for the primary cryptocurrency, which went up and down by a few thousand dollars on Monday. After it bottomed at $43,300, though, the bulls regained control over the market and started to push the asset north gradually.
As such, bitcoin started reclaiming some lost ground and jumped to above $48,000, as reported yesterday. Furthermore, it kept climbing and reached an intraday high of $48,500.
This became the highest price line since last week’s massive crash, in which the cryptocurrency plummeted by $10,000 in a day.
Following this multi-day peak, BTC has retraced slightly and even dropped to $47,000 earlier today. As of now, though, it has recovered nearly $1,000 and stands just shy of $48,000 once more.
Did you like this market update?
This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
Bitcoin’s market capitalization stands around $900 billion, and its dominance over the alts is over 41.5%.
AVAX New ATH as SOL Drops 10%
The alternative coins’ performance has been rather identical to that of bitcoin in the past 24 hours. Ethereum, which had jumped to $3,650 yesterday, is down by more than 2% to $3,530.
Cardano, Binance Coin, Ripple, and Terra have dropped by a similar percentage. As a result, ADA sits at $2.4, BNB at $420, XRP below $1.1, and LUNA is at $36.
Chainlink and Uniswap are well in red, but Solana has lost the most value in a day. SOL has dumped by nearly 10% to below $145.
In contrast, Avalanche skyrocketed to a new all-time high just hours ago. Polkadot and Dogecoin have also marked some gains.
From the lower- and mid-cap altcoins, Shiba Inu and Audius stand out as the most significant gainers after increasing by 32% and 25%, respectively.
On the other hand, ICON (-11%), Perpetual Protocol (-11%), Synthetix (-9%), and Revain (-9%) have charted massive drops. As such, the crypto market cap has retraced slightly, but it’s still above $2.150 trillion.