Bitcoin $101,777 continues to create constant wicks, fluctuating between $69,000 and $70,500. The election results will soon be revealed, and exit polls are starting to emerge. This week is crucial as it includes significant events, with a key interest rate decision expected in two days.
Solana Sets New Record
Kyle highlighted the historic record on the Solana $226 network amidst the excitement surrounding the elections. The daily on-chain transfer volume significantly exceeded the market capitalization of SOL Coin. This activity explains why SOL Coin remains strong compared to competitors like AVAX.
“SOL executed a record on-chain transfer of $224 billion, nearly three times its market cap of $76 billion within a single day.”
This surge indicates potential breakthroughs for both SOL and the broader crypto ecosystem, emphasizing increased adoption, liquidity, and Solana’s scalability.
Bitcoin (BTC)
Stockmoney Lizards commented that although $66,800 has not yet been confirmed as a bottom, it looks promising. They warned investors about the possibility of new wicks forming in the coming hours.
Daan Crypto Trades identified two key levels, suggesting that the price could move towards these ranges.
“The largest cluster below is around $61,600, while above, there is clustering around $74,000, which is above the all-time high. Depending on who wins the election, it’s likely that one of these levels will be reached soon.”
Experts sharing the liquidation heat map suggest that the price could move in either direction. Altcoins are likely to react to these BTC fluctuations, targeting their respective highs and lows.
Finally, Cowen remains focused on Ethereum (ETH) $3,926. He predicts further declines in ETH’s price, suggesting that it may weaken faster than the overall market or due to a BTC rise. ETH’s market dominance is below 13% and could drop to extraordinary oversold levels around 9%.