Crypto Snapshot: Solana Soars to $240 as Bitcoin Holds Firm Above $90K
Solana (SOL) surged to a three-year high of $240, leading altcoins with a 4.3% rise over the past 24 hours. This breakout comes amid a broader market uptick, with the CoinDesk 20 Index climbing 1.66%. Bitcoin (BTC) saw a slight dip of 0.34%, consolidating above $90,000 after a strong post-election rally.
Retail enthusiasm for bitcoin and related assets has reached new heights, with JPMorgan’s sentiment index hitting a record level of 4, signaling intense interest among individual investors. Analysts warn that while the mood is exuberant, parabolic moves often precede brief corrections.
XRP continued its remarkable ascent, hitting $1.20 for the first time since 2021. Derivatives traders have pushed open interest to over $2 billion, reflecting expectations of further volatility. Optimism around Ripple’s growing ecosystem and the potential for a regulatory tailwind under a crypto-friendly administration has boosted the token’s appeal.
Technically, Solana’s breakout against bitcoin (SOL/BTC) signals a fresh phase of outperformance. With altcoin momentum building, market watchers are closely eyeing whether SOL’s rally could push it further into uncharted territory.
