Bitcoin Around $48K as Solana (SOL) Hits $100 (Market Watch)

Bitcoin Around K as Solana (SOL) Hits 0 (Market Watch)

After another unsuccessful attempt to spike above $49,000, bitcoin has dropped again to around $48,000. Most alternative coins have charted minor losses again, aside from Solana. Once more, SOL has outperformed most tokens and tapped $100 for its latest ATH.

Bitcoin Stands Around $48K

The past week was quite volatile for the primary cryptocurrency. Last Monday, it skyrocketed above $50,000 for the first time in over three months.

As the bulls were preparing for another leg up to reclaim other levels, the situation changed, and BTC started to lose value. This resulted in a substantial drop to around $46,300 on Thursday and Friday.

After this $4,000 decline, though, bitcoin headed north again and came close to the $50,000 mark on Sunday. However, to no avail, as it failed on two occasions.

The subsequent rejection from the second attempt drove it south to its current level of around $48,000. Consequently, its market capitalization stands at $900 billion and its dominance over the altcoins at 43.5%.

BTCUSD. Source: TradingView

Alts Stall But Not SOL

Most altcoins are also in the red on a 24-hour scale. Ethereum has failed to remain above $3,200 and has fallen beneath that level after a 1% decline. Ripple has seen similar a movement as well, while Cardano and Dogecoin are slightly in the green.

Binance Coin (-2%), Polkadot (-4%), Bitcoin Cash (-4%), and Litecoin (4%) have lost a bit more value, while LUNA has plummeted by 8% in a day. This comes just a day after the asset marked another all-time high above $36.

One coin that also painted a new record yesterday, but it’s not in the red today, is SOL. It continued with its impressive performance and registered a fresh ATH hours ago at just over $100.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto


More gains come from Revain (50%), Fantom (40%), The Sandbox (21%), Flow (16%), Perpetual Protocol (15%), Decentraland (12%), and ICP (10%).

The cumulative market capitalization of all crypto assets has lost some ground and is currently just below $2.1 trillion.


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