Weekend Watch: Crypto Recovery – Bitcoin Eyes $38K, SOL Spikes 8%

Bitcoin continues to recover with its goal of surpassing $38,000. Since yesterday, many alternative coins have seen even greater gains. Ethereum has increased by 7% while Solana has increased by 8%

Bitcoin Eyes $38K

The asset has not shown any notable gains since Wednesday’s failure to surpass $39,000, when the Federal Reserve stated that it would increase interest rates in March.

It actually dropped to $35,000.00 hours after the Fed meeting, and it was stopped in its tracks as it attempted to bounce back. However, things started to improve after the second dip to that local bottom.

BTC spiked to above $37,000 and then fell below that level again. However, it regained its momentum in the last 24 hours. The asset is now close to $38,000 and its market capitalization has reclaimed $700 billion.

BTCUSD. Source: TradingView
lts Green: SOL 8.8% up

While alternative coins have suffered over the last few weeks, the overall picture is much more positive. Ethereum trades at $2,550, a significant increase from the $2,000 it traded last week. This is a remarkable 7% increase over the second-largest cryptocurrency.

Avalanche and Solana are the top performers among the top 10 most valuable digital assets. SOL has increased by 8% while AVAX has risen 9%

Binance Coin (2%), Cardano (4%) and Ripple (3.5%), Terra (1%), Polkadot (5%) and Dogecoin (3%) offer greater gains, respectively.

Further price increases can be seen at Flow (17%) and Celsius Network (15%) as well as LooksRare (13%), The Sandbox (11%), Kadena (11%), eCash (10%) and CRO (10%).

The total market cap for all crypto assets increased by approximately $50 billion per day to just above $1.7 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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