The rise of Bitcoin (BTC) began to stall, ceding the stage to other major cryptocurrencies like ether (ETH) and solana (SOL), which led the crypto rally after prices surged to 19-month highs.
BTC dropped to $43,000 after climbing to nearly $45,000 earlier this week. This indicates that traders took some profits from last week’s $38,000.
Meanwhile, ETH price jumped 5% in the same period and hit $2,372, the highest level since May 2022.
Optimism and Arbitrum prices also rose 22% and 9% respectively during the day.
Solana (SOL) jumped over 8% to $69, its highest since May 2022, with Arthur Hayes, a crypto investor and founder of BitMex exchange, hinting at a $100 price target.
Crypto analytics firm Santiment noted that BTC’s price surge coincides with traders increasingly fearing a “bull trap,” which they see as a short-term boost that allows investors to return to the market ahead of a major downtrend.
“Traders fear the crypto market may be a bull trap right now,” Santiment Poston X (formerly Twitter) on Thursday By referring to social media indicators
refer : coindesk.com
picture news.bitcoin.com
The post Ether, Solana prices surge to 19-month highs appeared first on Bitcoin Addict.