Bitcoin Price Hit New Yearly Peak, Solana Explodes 10% Daily (Weekend Watch)
Bitcoin’s price ascent continued in the past 24 hours as the asset jumped to $106,000 for the first time this year where it was stopped and pushed south by around three grand.
The altcoins have finally started to retreat after the recent gains, aside from SOL, which has emerged as today’s top gainer.
BTC Stopped at $105K
The highly volatile trading week began with a massive price drop for the largest cryptocurrency that pushed it from $96,000 to a multi-month low of $89,200 (on Bitstamp). After losing so much value within a day, the bulls finally intercepted the asset’s freefall at this point and reversed its trajectory.
Within 24 hours, BTC had regained more than seven grand and stood at around $97,000. The US CPI numbers that were announced on Wednesday brought even more gains, somewhat surprisingly, and bitcoin jumped to $98,500 and then kept climbing toward $100,000.
After a minor rejection there, the cryptocurrency flew past that coveted level. The culmination transpired yesterday when the asset jumped to its highest levels since the all-time high in mid-December of $106,000.
However, it couldn’t continue toward the peak of over $108,000 and started to lose value. As of now, BTC trades at $103,000, which has pushed its market cap to almost $2.050 trillion on CG. Its dominance over the alts is also on the rise, close to 55%.
SOL Defies the Odds
Many altcoins charted notable gains in the past few days but have gone into a retracement mode today. XRP has been at the forefront, coming 1% away from a new all-time high at $3.4. However, it was stopped there and now struggles at $3.1.
Ethereum has dropped below $3,300, BNB is at $700, DOGE is under $0.4, and ADA has lost the $1.1 level. More losses come from AVAX, XLM, SHIB, HBAR, DOT, and others.
In contrast, SOL has soared by 10% and has tapped its highest level since early December of almost $240.
The total crypto market cap has declined slightly since yesterday’s peak, but it is still above $3.7 trillion on CG.
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