SOL Eyes $200 After 5% Daily Surge, BTC Calms at $95K (Weekend Watch)
Bitcoin’s declining trading volumes continue over the weekend as the asset has produced little to no actual price movements over the past day.
The altcoins have recovered some ground from the Saturday correction, with ETH above $3,400 and DOGE aiming at $0.33.
BTC Stalls at $95K
Last week’s correction erased much of BTC’s price gains charted in December as the asset plummeted to $92,000 on December 21. It managed to bounce off immediately and headed toward $100,000 on a couple of occasions since then = on December 22 and 26 – but to no avail.
Each attempt was met with a vicious rejection that pushed the cryptocurrency south by several grand. The last such movement came at the end of the business week, and BTC slumped toward $93,000.
It defended that level and jumped to $94,000 yesterday and $95,000 now. This is somewhat expected given the declining trading volumes as of late, which could actually be a blessing in disguise for BTC and other assets if whales continue to make big purchases.
For now, though, BTC’s market cap remains well below $1.9 trillion on CG, and its dominance over the alts has been reduced to 54%.
SOL, SUI Recover
Most altcoins suffered badly yesterday but have produced some minor increases over the past 24 hours. ETH has climbed above $3,400, XRP is close to $2.2, while BNB continues to defy the market sentiment with a 2.5% jump to $718.
Dogecoin has added over 3% of value and stands close to $0.33, while SOL and SUI have gained 5-6%. As a result, SOL now trades above $195, while SUI is north of $4.25.
Other notable gainers include HBAR, DOT, AAVE, APT, ICP, and PEPE.
The total crypto market cap has recovered about $50 billion since yesterday and is close to $3.5 trillion on CG.
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