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.
Bitcoin’s Price Attempts to Capture $35K
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.
Solana (SOL) Leads Major Alts into Recovery
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.
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Cryptocurrency charts by TradingView.