Bitcoin’s Price Taps $36K, Solana (SOL) Soars Another 12% Daily: Market Watch

Bitcoin’s price soared today, tapping $36K before retracing to where it’s currently trading at around $35,300. The cryptocurrency charted a multi-month high.

At the same time, Solana (SOL) keeps on soaring with absolutely no signs of slowing down.

Bitcoin Taps $36K

As CryptoPotato reported earlier today, Bitcoin’s price exploded to around $35K (on Binance), reaching an 18-month peak.

btc_price_chart_0211231 — Source: Binance via TradingView

As seen in the chart, BTC was unable to sustain its price at $36K and subsequently retraced to where it’s currently trading at around $35,300.

The move propped up the entire cryptocurrency market and left a total of $160 million worth of liquidated positions in the past 24 hours. $100 million of these were short positions, indicating the complete control that bulls had during the surge.

BTC’s increase has also had a positive impact on its dominance, which is currently standing at 51%. This shows that Bitcoin performed better compared to altcoins in the past 24 hours. Of course, that’s not true for all altcoins.

Solana (SOL) Keeps on Soaring

Solana is undoubtedly the hottest story of the past week, up over 33% in the period. Over the last 24 hours alone, the cryptocurrency increased by a total of 12% and is currently trading at around $43.60.

crypto_heatmap_0211231 — Source: Quantify Crypto

As can be seen in the heatmap above, most of the market is well in the green, with some altcoins charting major gains – not only Solana. Uniswap’s UNI, for instance, is up 13%, while ADA and DOGE are also gaining a fair amount.

All in all, the best-performing altcoin from the top 100 is AAVE, up almost 16% during the day, followed by UNI and SOL.

On the other end of the spectrum, there’s Rollbit’s RLB, which is down 10.4% and is by far the cryptocurrency that lost the most.

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