Bitcoin Calm at $ 48,000 as Solana drops 10% (market watch)

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After hitting a new 10-day high yesterday, bitcoin has calmed down to around the $ 48,000 mark. Outside of Avax, most of the alternative coins saw one-day losses, including a massive 10% drop for the very high-flying Solana.

Bitcoin stalls around $ 48,000

The last few days have gone well for the main cryptocurrency, which rose and fell by a few thousand dollars on Monday. After hitting a low at $ 43,300, however, the bulls regained control of the market and began to gradually push the asset north.

As such, bitcoin has started to recover lost ground and has risen to over $ 48,000 as reported yesterday. Additionally, it continued to climb and hit an intraday high of $ 48,500.

It became the highest price line since the massive crash last week, in which the cryptocurrency fell $ 10,000 in one day.

After that multi-day spike, BTC fell back slightly and even fell to $ 47,000 earlier today. So far, however, it has recovered almost $ 1,000 and again stands at just under $ 48,000.

Bitcoin’s market cap is around $ 900 billion and its dominance over alts is over 41.5%.

BTCUSD. Source: TradingViewAVAX New ATH as SOL drops 10%

The performance of alternative coins has been pretty much the same as bitcoin over the past 24 hours. Ethereum, which jumped to $ 3,650 yesterday, is down more than 2% to $ 3,530.

Cardano, Binance Coin, Ripple and Terra fell by a similar percentage. As a result, ADA stands at $ 2.4, BNB at $ 420, XRP below $ 1.1, and LUNA at $ 36.

Chainlink and Uniswap are well in red, but Solana lost the most value in one day. SOL has fallen almost 10% to less than $ 145.

In contrast, the Avalanche hit a new all-time high just a few hours ago. Polkadot and Dogecoin also scored some gains.

Overview of the cryptocurrency market. Source: quantifying crypto

Among low- and mid-cap altcoins, Shiba Inu and Audius stand out as the biggest winners after increasing 32% and 25%, respectively.

In contrast, ICON (-11%), Perpetual Protocol (-11%), Synthetix (-9%) and Revain (-9%) recorded massive declines. As such, the crypto market cap has fallen slightly, but it is still above $ 2.1 trillion.

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