Bitcoin Solidifies at $57K While Solana (SOL) Explodes 8% Daily: Market Watch

It was a positive day for the cryptocurrency market last week. The total market cap rose above $2.2 trillion as several coins rebounded sharply from yesterday’s lows.

Bitcoin price appears to be stable, but it is important to take this calm with a grain of salt as sentiment remains uncertain.

Bitcoin stabilizes at $57K

After a turbulent day of trading, Bitcoin price appears to have found some equilibrium at $57,000, where it is currently trading.

As you can see in the chart above, the price has been going through a period of volatility throughout the past 24 hours, rising above $57K and falling below $55K before finally rising above this level and stabilizing around it.

This volatility caused a huge spike in the number of liquidated positions in the derivatives market. About $240 million was wiped out, $130 million of which came from short traders.

However, it is important to take the current balance with a grain of salt, as the prevailing market sentiment remains fearful, According to To the common fear and greed index.

Altcoins in a Sea of ​​Green… Finally

The large-cap cryptocurrency market is in full swing – a sight we haven’t seen in a long time. Of course, there are some coins that have performed better than others, but all of them have been trading positively over the past 24 hours.

It is worth noting that SOL has risen by about 8% in the past day, approaching the pivotal $150 level. ADA is also trading at a 6% increase, like UNI.

Ethereum managed to reclaim the $3,000 level after gaining nearly 5%, while BNB reclaimed $500.

Today’s best performer, among the top 100 coins by total market cap, is the meme coin BONK, which is up a massive 25%. On the other hand, ATOM is the only altcoin that failed to benefit from the rally and is trading mostly stable.