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Bitcoin (BTC) Maintains $30K, Solana (SOL) Jumps 12%: Weekend Watch

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Bitcoin (BTC) Maintains $30K, Solana (SOL) Jumps 12%: Weekend Watch

(CTN News) – During the last week, Bitcoin experienced a lot of volatility in terms of price, posting a new 13-month high before it fell under $30,000, but has been able to maintain this level so far.

The altcoin market is calmer on a daily scale, with the exception of SOL, AVAX, LEO, ARB, and a few others, which have gained some value over the last couple of months.

Bitcoin (BTC) Defends $30K

On Friday, though Bitcoin (BTC) went through a rollercoaster ride in which it went from $31,000 to $29,500 in a matter of hours and then back up to $30,500 in a matter of hours later, the weekend was fairly uneventful.

There was, however, a relative calm on Saturday and Sunday, with Bitcoin (BTC) remaining at just over $30,000.

Early Tuesday morning was the time when the landscape began to change once again, and Bitcoin was once again able to push above $31,000 once again.

In spite of the bulls having rejected it there, on Thursday, they went on the offensive once again, and for the first time in 13 months, they were able to drive bitcoin north to $31,500 (on Bitstamp) for the first time since February.

In spite of that, the asset failed there again and plummeted to $29,700 by the time Friday morning rolled around. In spite of this, it bounced off and reclaimed the coveted $30,000 in the following hours, and it has remained just above that line ever since.

At the time of writing, its market capitalization stands at $585 billion and it occupies just a little over half of the total market capitalization of alternative coins.

AVAX and SOL are both on the rise

Altcoins have also been experiencing increased volatility over the last few days, but most of them have calmed down on a daily basis in recent days.

The price of Ethereum was close to $2,000 at one point, but was sharply rejected yesterday and is currently approximately $150 off that level.

Among the larger-cap altcoins, Binance Coin, Ripple, Cardano, Dogecoin, Litecoin, Tron, Polkadot, and Polygon are all slightly in the green.

With gains of 7.5% and 13%, respectively, Avalanche and Solana have stolen the spotlight with gains of 7.5% and 13%, respectively. Therefore, AVAX currently stands at $13, while SOL has risen above $22 as a result.

It is worth noting that the cumulative market cap of all crypto assets as a whole has managed to reclaim just under $10 billion in a single day, and currently sits over $1.8 trillion. It is important to keep in mind that the metric dropped by $50 billion yesterday alone as a result of the drop.

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Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

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