SOL Defies Market Sentiment With 5% Surge, LINK, BCH, and ADA Drop Hard (Market Watch)

Bitcoin went through a minor rollercoaster after its failure to overcome $44,000 yesterday and dumped by almost two grand in the following hours.

Most larger-cap alts are in the red today following yesterday’s gains, with ADA, LINK, BNB, MATIC, and BCH retracing the most.

BTC Settles Below $43K

The primary cryptocurrency had a quiet weekend in which it stood in a tight range between $43,000 and $44,000 after failing to remain above the latter despite its two brief pumps above it. However, the start of the business week was quite unfavorable as the asset fell to $42,500 on Tuesday before another sharp dive drove it all the way down to $41,600 a day later.

This is where the bulls finally came out of the woods and propelled an impressive leg up that resulted in gaining more than two grand within a day. This culminated in a price surge to just under $44,000. Nevertheless, BTC failed to overcome its nemesis, and the subsequent rejection pushed it south to $42,200 earlier today.

As of now, bitcoin has regained some ground but still stands below $43,000. Its market capitalization is down to $835 billion, while its dominance over the altcoins can’t recover from the recent blows and continues to be under 50% on CMC.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SOL Defies Market Movements

Most alternative coins registered impressive gains yesterday, with BNB soaring to a multi-month peak. Moreover, its market cap exceeded $50 billion at one point, which allowed it to reclaim the fourth spot from SOL in terms of the largest digital asset.

Speaking of Solana, it was one of the poorest performers yesterday, but the situation is entirely different today. After a brief dip below $100, SOL is now up by 5% and sits close to $110.

The rest of the larger-cap alts are with losses today, including ETH, XRP, DOGE, and DOT. Cardano, BNB itself, MATIC, LINK, and BCH have declined even more by around 4-5%.

The total crypto market cap has seen around $15 billion gone in a day and is down to $1.670 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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