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    Home » Market Updates » Bitcoin Corrects Below April’s Previous ATH, Solana Spikes Above $200 After 35% Weekly (Market Watch)

    Bitcoin Corrects Below April’s Previous ATH, Solana Spikes Above $200 After 35% Weekly (Market Watch)

    Author: Jordan Lyanchev

    Last Updated Oct 23, 2021 @ 08:24

    While bitcoin lost over $5,000 in a day, Solana has gone on a roll with a near 10% surge since yesterday and has jumped above $200.

    The volatile roller-coaster returned to the crypto markets again after bitcoin’s ATH, and the asset dropped by 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 $5K

    The news that the US will finally have its own Bitcoin ETF, even if it’s a Futures one, for now, brought significant gains for the primary cryptocurrency. BTC traded below $58,000 last week when the first reports emerged but quickly skyrocketed above $60,000.

    It kept climbing further, which culminated on October 20th. Bitcoin broke its April ATH of $65,000 and charted a new one at approximately $67,000.

    After this peak, though, the bears came to play and pushed the asset 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 stands above $63,000. Its market capitalization sits around $1.2 trillion, while the dominance over the altcoins is at 46%.

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    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    Alts Stall: SOL Doesn’t

    The alternative coins also saw multi-month highs against the dollar in the past few days, but most have retraced 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 have also seen minor losses. In contrast, Polkadot and Avalanche have charted slight gains. Terra has surged by more than 7%, but Solana has stolen the show again with a 9.5% increase in a 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 market cap, which charted a new record at over $2.650 trillion, has lost more than $60 billion since then and is currently just shy of $2.6 trillion.

    Cryptocurrency Market Overview. Source: Quantify Crypto
    Cryptocurrency Market Overview. Source: Quantify Crypto
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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price Solana (SOL) Price
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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