Solana (SOL) Up 6% Daily, Bitcoin (BTC) Halted Before $70,000 (Market Watch)

Monday started on a positive note for bitcoin as it jumped to a new multi-month peak of $69,500, but was unable to continue towards the previous level of $70,000.

A number of altcoins have posted gains over the past day, helping the total cryptocurrency market cap near $2.5 trillion for the first time since July.

BTC still can’t touch $70,000

Last week was quite positive for the main cryptocurrency. It started with a price increase from $62,400 to $66,400 last Monday before bulls and bears collided on Tuesday in a move that led to massive swings of $3,000.

However, the bulls turned out to be the winners of this battle and continued to push the asset northward. The weekly high came on Friday when BTC touched $69,000 for the first time since late July.

The weekend was expected to be quieter, with bitcoin trading around $68,500. However, it went on the offensive in early Asian trading on Monday when it rose to $69,500 to mark a new three-month peak.

However, he failed to break through that level and continue towards $70,000 and the subsequent rejection pushed him south around a million. However, its market cap remains above $1.350 trillion, while its dominance of the highs has taken a big hit, falling to 54.5% from 55.1%.

Bitcoin/Price/Chart 21.10.2024. Source: TradingView SOL up 5.5%

The biggest gainer in the crypto industry yesterday was ApeCoin’s APE. The asset exploded in triple digits daily and soared to a six-month high of $1.7 before returning to its current level of around $1.5. This came after a major breakthrough announced by the team.

Most alternatives have smaller gains today, with ETH rising above $2,700 after a 3% rise. BCH, LINK, UNI and ADA have marked similar price jumps, while SOL has become the current best performer among the larger-cap alternatives.

These gains have helped the total crypto market capitalization add about $35 billion overnight. The metric is now approaching $2.5 trillion for the first time in about three months.

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