Bitcoin Reaches $44K, but Drops Below
Bitcoin’s price surged above $44,000 for the first time in over a year, but it has since lost some momentum and now stands below that level. The cryptocurrency experienced a sharp price drop to $40,500 on Monday before quickly rebounding. It then soared to a 12-day high of $44,300 on Wednesday but failed to maintain that level. Despite this, Bitcoin remains up by 2% on the day, with a market cap over $850 billion and dominance over altcoins at 52.3% on CMC.
Solana Skyrockets
Solana’s native token, SOL, has been leading the recent price surges. In the past 24 hours alone, SOL has increased by 11% and reached a price of $85. This is the highest price since May 2022, and SOL has surpassed XRP to become the fifth-largest cryptocurrency. Other larger-cap altcoins like Avalanche and Polkadot have also experienced gains, with AVAX up by 8.5% and DOT up by 6%.
Total Crypto Market Cap Rises
The total crypto market cap has increased by $30 billion overnight and is now close to $1.650 trillion on CMC. Other cryptocurrencies that have seen significant gains include IoTeX (22%), PancakeSwap (20%), Near Protocol (16%), and Neo (11%).
Hot Take: Bitcoin Surges Above $44K Before Retracing
In the past 24 hours, Bitcoin reached over $44,000 for the first time in over a year. However, it was unable to maintain that level and has since dropped below it. Solana’s native token, SOL, has been leading the recent price surges and reached a new high of $85. The total crypto market cap has also seen significant growth. Despite the retracement, Bitcoin’s market dominance remains strong at 52.3% on CMC.
By
By
By
By
By