The market appears to be recovering from yesterday’s correction, when most cryptocurrencies withdrew following the significant increase. Bitcoin is now trading at $35,000, while some altcoins are surging. Let’s get started.
Bitcoin’s Price Attempts to Capture $35K
Bticoin’s price has been steadily rising over the last 24 hours, approaching $35K in an attempt to reclaim this significant level. According to CoinGecko, the cryptocurrency is currently trading at $34,800, up 1.6% on the day.
During the day, the market was relatively quiet. During the last 24 hours, a total of $72 million in long and short positions have been liquidated. However, 77% of these were shorts, indicating that the bulls currently have the upper hand.
Solana (SOL) Leads Major Alts into Recovery
Altcoins, in addition to Bitcoin, are gaining popularity. In fact, Bitcoin’s dominance has fallen to 50.4% over the last 24 hours, indicating that alts have outperformed it.
Solana’s rally continues, with the stock increasing by 10% during the day. It has reclaimed the $40 level and is now pushing above it.
The majority of altcoins are seeing gains in excess of 2%. It will be interesting to see if the rally continues into the week or if it is just a weekend pump.