SOL Re-enters Top 10 After 15% Weekly Surge, BTC Sits Below $31K (Market Watch)

Bitcoin tried its hand at overcoming $31,000 yesterday but failed and has remained just inches below that level since then.

The altcoins are calmer today, with BCH and AAVE popping out as the few notable gainers, while LTC and AVAX are slightly in the red.

BTC Aims at $31K

Bitcoin charted a new 13-month high last Thursday when it jumped all the way to $31,600 (on Bitstamp). However, the bears took control and pushed the asset south hard, dropping to $29,700 hours later.

The cryptocurrency managed to recover some ground by the time the weekend arrived and stood above $30,000 for most of Saturday and Sunday. Monday didn’t provide any major changes, but that came on Tuesday morning.

Bitcoin spiked to $31,000 once more, but as it has happened quite a few times in recent weeks, it was met by a major rejection that drove it south by about a grand.

Nevertheless, the asset reacted well and currently trades about $300 away from $31,000. As such, its market capitalization is just shy of $600 billion, and its dominance over the altcoins has risen to 50% on CMC.

BTCUSD. Source: TradingView## SOL Back in Top 10

The alternative coins retraced quite a bit on Monday but went on the offensive yesterday, posting impressive daily increases. The landscape is quite different today, with little-to-no major moves from almost all of them.

ETH, BNB, DOGE, TRX, DOT, ADA, UNI, LEO, and LINK are slightly in the green, while XRP, MATIC, LTC, and AVAX have posted insignificant losses.

Bitcoin Cash has risen the most from the top 20 (3.5%), which has pushed it to over $280. AAVE has gained the most daily from the top 100 (6.5%) and trades at $75.

SOL has emerged as the top performer on a weekly scale and has tapped $22 despite showing no movements on a 24-hour chart.

In total, the crypto market cap has remained relatively still at roughly $1.190 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto