Bitcoin Consolidation Continues, Solana Climbs 10% to 2-Month High (Market Watch)


Bitcoin continues its rather calm performance over the past few days and sits above $47,000. While most altcoins are also stagnating, others like Solana and Avalanche have scored substantial gains on a daily scale.

SOL and AVAX open the alternative way

Ethereum is among the calm altcoins with a minor daily increase that helped the second-largest cryptocurrency recover $3,400. It should be noted that ETH struggled below $3,000 just over a week ago, but since breaking above that level it has not looked back.

Binance Coin is also slightly in the green now and sits at $445. Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu and CRO produced minor price appreciations.

Although Terra is also up less than 2% on a daily scale, the asset has actually hit a new all-time high – just under $110.

Avalanche and Solana are the most impressive performers of larger cap alts. AVAX is up 8% and sits at $100, while SOL has climbed 10% and is trading north of $120.

Further gains are evident for small- and mid-cap alts including IOST (42%), Zilliqa (25%), Theta Fuel (16%), IoTeX (13%), TRON (11%) and Enjin Coin ( 11%). %).

The crypto market capitalization has increased by around $30 billion since yesterday and stands at $2.150 billion.

Presentation of the cryptocurrency market. Source: Quantify Cryptography

Bitcoin Spreads at $47,000

The major cryptocurrency saw one of its largest price surges in recent months on Monday, rising from $45,000 to over $48,000 in hours. This happened after weeks of not being able to go above $45,000.

Briefly breaking above $48,000 meant charting its highest price level since January 2 of this year. Since then, however, the asset has fallen a few hundred dollars and could not stay above $48,000.

On the contrary, it even fell below $47,000 twice in the past two days. Currently, BTC is trading above this level, but its market capitalization has slipped to just under $900 billion.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

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Cryptocurrency charts by TradingView.


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