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SOL and SHIB Surge 12%, Bitcoin Reclaims $62K (Market Watch)

cryptopotato.com 01 November 2021 10:59, UTC
Reading time: ~2 m

After another price dip below $60,000, bitcoin went on the offensive again and surged to $62,000. Some altcoins, such as Polkadot, Solana, and Shiba Inu, have also charted impressive 24-hour gains, and SOL has even neared its ATH.

Bitcoin Reclaims $60K

The past few days didn’t go all that well for the primary cryptocurrency, even though it managed to recover from Thursday’s sudden crash to $58,500 almost immediately.

It jumped above $62,000 at the time and even tried its hand at $63,000 a day later but to no avail. The bulls intercepted the move and pushed it south, which resulted in a drop to $60,000 on Sunday.

Bitcoin even dropped below that coveted line to an intraday low of $59,500 hours ago. However, the bulls stepped up at this moment and drove the cryptocurrency up. BTC added nearly $3,000 of value and touched $62,500 before retracing slightly to its current level of around $62,000.

Bitcoin’s market capitalization has returned above $1.150 trillion, while the dominance over the altcoins stands still at 44%.

SOL and SHIB See Double-Digit Gains

Most of the altcoin space is also in the green today. Ethereum dropped to $4,200 yesterday, but a modest increase on a 24-hour scale has driven it back above $4,300.

Binance Coin is 2% up on the day and trades north of $530. A near 3% pump from Cardano has driven ADA to $2. More gains come from Dogecoin (5%), Terra (2.5%), Avalanche (3%), Chainlink (3.5%), and Litecoin (3%).

Polkadot has spiked by 6% and now stands above $44. Solana and Shiba Inu are the most significant gainers from the larger-cap alts. SOL has surged by nearly 12% to $210, which is close to the token’s ATH.

SHIB is up by a similar percentage and trades above $0.000073. As such, SHIB has reaffirmed its position above Dogecoin as the largest meme coin.

More fluctuations are evident from Qtum (36%), THORChain (24%), Holo (21%), Dogelon Mars (18%), XDC Network (16%), OMG Network (11%), The Graph (11%), and Huobi Token (10%).

The cryptocurrency market capitalization is up by approximately $50 billion in a day to $2.650 trillion.

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