Bitcoin (BTC) Soars Toward $30K, Solana (SOL) Skyrockets 13% Daily (Market Watch)

After a few days of trading sideways, bitcoin went on the offensive hard in the past 12 hours or so and shot up to nearly $30,000.

The altcoins have also turned green, with SOL, BCH, XRP, XLM, and MNT skyrocketing by up to 12%.

BTC Eyes $30K

The start of the business week was quite positive for the primary cryptocurrency, which pumped to $28,000 after a boring weekend. Monday saw another mindblowing price surge when a fake report in regards to the SEC approving a spot BTC ETF pushed the asset north by around two grand to a multi-month peak of just under $30,000.

However, the subsequent rebuttal of the report resulted in a similar price drop that erased all gains. The bulls tried to drive the cryptocurrency north in the following days but to almost no success. That changed in the past day or so, though.

BTC shot up to $29,400 late on Thursday before soaring even more to its current price point of $29,800. Being so close to the $30,000 milestone means that its market cap has increased to over $580 billion.

Its dominance over the altcoins, which has been on a steady rise in the past week or so, is now up to 51.7%.

BTCUSD. Source: TradingView## SOL Steals the Show

The altcoins have also followed BTC’s upward trajectory. Ethereum has gained about 4% on the day and sits above $1,600. BNB, Cardano, Dogecoin, Tron, Toncoin, Polygon, Polkadot, and Litecoin have soared by similar percentages.

Ripple is up by 7% now following the latest positive developments in the company’s legal case against the SEC.

Solana, though, has stolen the show from the larger-cap landscape with a massive 13% daily surge. Consequently, SOL sits at a multi-week high at $27.

More impressive gains come from the likes of Bitcoin Cash, Avalanche, XLM, MNT, and OP. Bitcoin SV and Stacks have skyrocketed the most from the mid-cap alts, by 30% and 20%, respectively.

The total crypto market cap has added over $40 billion daily and sits well above $1.2 trillion on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto