Bitcoin Spikes To 10-Day High While SOL, LUNA Explode 17%

Bitcoin spikes to 10-day high while SOL and LUNA both surge by 17% as we are reading further in our latest bitcoin news.

The crypto market turned green today with some bigger price increases coming from Terra, Solana, Ethereum, and others while Bitcoin tapped a ten-day high. After dipping below $37,000, BTC went on the offensive and added another $2000 in a few hours to reach a new 10-day high. The alternative coins were also in the green with some notable gains registered from Terra, Solana, Ethereum, and more. The past few days were volatile for the main cryptocurrency and it dipped to $35,000 on two separate occasions before it started regaining some value and hit $38,000 during the weakened. It even managed to increase to $38,600 but the bears then stepped up and didn’t allow more gains. They also pushed the asset south and BTC dumped below $38,000 a few hours later.

The situation got even worse as BTC dropped by another $1000 but this is where things changed. In the next few hours, BTC started regaining value and surpassed $38,000. it initiated another leg up and resulted in hitting $39,000 which became the highest price tag in 10 days. BTC retraced a little but the market cap shot up to above $700 billion. The alternative coins started bleeding but most are recovering now and are in the green. Etheruem leads the way with a 10% increase which led the coin a little over $2800.

Bitcoin spikes to a 10-day high while DOGE, ADA, Binance Coin all recorded more modest price gains of 4% each and more increases came from Shib, Avalanche, Ripple, MATIC, and Polkadot. The biggest gainers from the larger cap altcoins include Solana and Terra with both jumping by 17% on a daily scale. SOL reclaimed the $100 price point while LUNA sits above $50. more daily increases came from Osmosis which increased 15%, Mina Protocol which increased by 14%, Cosmos followed suit, Gala increased by 12% and Aave increased by 13%. The crypto market cap is set around $100 billion in one day and now sits close to $1.8 trillion.

As recently, Ethereum killers are blockchain networks that use smart contracts to enable DEFI, NFTs, and other applications and it turned out that SOL, AVAX, and Terra all crashed during the January market crash. January has been quite brutal for BTC with the price dropping 20% since the start of the month but as bad as it was for BTC, things were much worse for other coins in the top 15 by market cap especially for the so-called Ethereum killers.