The market seems to be recovering from the correction of yesterday, where most of the cryptocurrencies withdrew following the significant increase. Bitcoin’s price is now charging at $35K, while some of the altcoins are popping. Let’s dive in.
Bticoin’s price got on an upward trajectory throughout the past 24 hours, pushing $35K in an attempt to recover this significant level. At the time of this writing, the cryptocurrency trades at $34,800, up 1.6% on the day, according to CoinGecko.
The market has been relatively calm during the day. There have been a total of $72 million worth of liquidated long and short positions throughout the last 24 hours. 77% of these were shorts, though, which indicates that the bulls currently have the upper hand.
Besides Bitcoin, altcoins are also popping. In fact, Bitcoin’s dominance has declined to some 50.4% throughout the past 24 hours, showing that alts have outperformed it during the period.
Solana continues its rally, exploding by 10% during the day. It recovered the $40 level and is pushing above it.
Most of the altcoins are charting considerable gains above 2%. It’s interesting to see if the rally will transition into the week or if it’s just a weekend pump.
