BTC Fails to Reclaim 62000 SOL and DOT Surge 8 Daily Market Observations

CoinWen.com reported:
The price trend of Bitcoin pushed the asset above $62,000 yesterday but failed to sustain its momentum and has since fallen below that level.
Some altcoins have outperformed the largest digital assets, including DOT, AVAX, and SOL.
BTC closed at $62,000.
In terms of price movement, it has not been a good week for major cryptocurrencies. After a calm weekend, the asset entered the market on Monday at a price above $64,000, with its spending at that level.
However, the bears didn’t wait long to initiate a massive sell-off, pushing Bitcoin southward. Within a few hours, BTC plummeted by thousands of dollars, falling to $58,400 for the first time in nearly two months.
The bull market finally found its footing at this point and, despite some warnings, didn’t allow any further decline. BTC rebounded, quickly reclaiming the coveted $60,000 level and rising above $62,000 on Wednesday.
It initially failed there, experiencing a slight pullback, but launched another attack yesterday. However, despite recent attempts to push it below $61,500, it was in vain.
Its market capitalization has successfully risen above $1.2 trillion, but its dominance in alternative investments remains below 50.5%.
Bitcoin/Price Chart 28.06.2024. Source: TradingView
Rise of DOT, AVAX, SOL
Perhaps the most notable news in the industry yesterday came from VanEck, the asset management company that applied to launch the first Solana ETF in the United States. As a result, the price of SOL immediately surged, hitting $150 for the first time in weeks. Despite a slight pullback, SOL still rose by 7% on the day.
More gains came from Avalanche (9%) and Polkadot (8%). AVAX has risen to over $28, while DOT has now surpassed $6.
Most other large-cap stocks are also in the green, albeit in a more moderate manner. FET and TRX are among the few that saw a decline.
The total cryptocurrency market cap recovered about $40 billion overnight, with the current CG market cap exceeding $2.4 trillion.
Cryptocurrency market overview. Source: QuantifyCrypto