BTC Reclaimed $39K Once Again As SHIB, SOL Soar By 8%: Analysis

BTC reclaimed $39k once again while Shiba, Solana, and Terra lead the price recovery today with some notable gains as we can see below in today’s Altcoin news and analysis.

After a few days of crashing, Bitcoin bounced off and added another $1000 of value and most of the altcoins turned green after the recent turmoils with Shib, Terra, and Solana leading the pack. It was the middle of last week when the main cryptocurrency challenged the $45,000 level as the bulls seemed to control the market but the rejection at that level meant upcoming trouble for the cryptocurrency. In a matter of a few hours, BTC dropped by a few thousand dollars and then dumped all the way down to $40,000 for the first time since February. BTC reclaimed $39K once again but before it got better it went worse as the coin struggled below this level over the weekend.

BTC dropped by a few thousand dollars once again yesterday and resulted in a nosedive towards $38,000 with the lowest price point seen since February 4^th. As of now, BTC reclaimed ground and stands above $39,000 but it was down 7% on a weekly note which means that the asset’s market cap is still well below $750 billion. The alternative coins suffered as well maybe even worse than the past few days and today most flashed signs of recovery. ETH was among the biggest losers and traded above $3200 days before the market-wide retracement drove it to $2600 and with a 4$ increase since then, It pushed the second biggest cryptocurrency to above $2700.

Similar gains were evident from Cardano, Binance Coin, Avalanche, Dogecoin, Litecoin, and ATOM with some more increases being seen from Terra, Shiba Inu, Solana, and Matic. SOL reached $95, LUNA maintained above $50 and MATIC is up to $1.6. BitTorrent is the biggest gainer today with a huge 31% surge followed by Quant that increased 17%, Axie Infinity 10%, and Waves increased by 12% the entire crypto market cap is around $60 billion since yesterday low but it is still below $1.8 trillion.

As recently reported, The price of SOL, the native token of Solana, surged over the past 24 hours and hit a daily high of $95.91 on Monday morning. Despite falling to $94,35 at the time of writing, SOL is still among the top gainers of the day increasing 5.4% over the past 24 hours. With a market cap of $30.14 billion, SOL is the eighth biggest cryptos according to CoinGEcko. Solana’s closest competitor is Cardano which has a market cap of $30.95 billion.