The rise in Bitcoin that has been ongoing for days gave way to a sharp drop with the end of the weekend and the opening of the Asian markets. The price, which rose to $44,000 last week, fell to $40,400 momentarily this morning. During this process, there was a decrease in altcoins, but some of them challenged the market.
The Best Altcoins and Price Increases
In the past few hours, there has been a sharp drop in the Bitcoin price in the crypto money markets with uncertainty. The fall was not only limited to BTC, but also noticeable drops in the prices of some altcoins such as XRP, SOL, ADA, which are among the top in terms of volume. Nevertheless, some altcoins challenged the market.
In the last 1 hour, according to the data provided by Binance, incredible price movements were detected in 3 altcoins. When the price analysis was made, it was revealed that 3 altcoins showed strong performances and one of them already made 2x.
AVAX, which started to rise in the late hours today, seemed to affect the projects it contains. BENQI (QI) broke its long-standing silence and experienced a 135% rise in the market environment where BTC fell. The stagnant price structure changed as a result of quick purchases and there was an incredible increase of 730% in the 24-hour trading volume. After the increase, the volume became 242 million dollars.
The market volume increased by 123% to 124 million dollars. Although it is thought that this price movement may be related to AVAX, it is not known exactly what caused it. However, news that may arise in the coming minutes can also reflect the reason for the event. After this price movement, QI rose to the 289th rank in the marketcap ranking.
VeThor Token (VTHO), which has increased by over 40% in 1 hour, was another altcoin that attracted the attention of investors. According to the data provided by Binance, its price increased to 0.002492 dollars with a 40% increase in the last 1 hour. The 24-hour trading volume increased by an incredible 500% and rose to 16 million dollars. The general volume of the altcoin rose by 32% to 161 million dollars.
Finally, a bullish scenario was formed in Marlin (POND) contrary to BTC. Despite the general drop in the market, the POND price increased by 22.9% and the price became 0.01626 dollars. Again, it was observed that the trading volume also increased in POND. The transaction that emerged in 24 hours happened with an incredible increase of 665% and was 27 million dollars. POND is currently ranked 266th according to its market ranking.
Current Situation in Bitcoin
The breathless rise in Bitcoin in recent weeks has given way to a slight pullback, and the price fell to $40,400 before rising to $42,400 with a small recovery.
Important decisions to be announced in the US during the week may have a significant impact on the Bitcoin price. Although Altcoins continue their correlation with Bitcoin, we may continue to see some altcoins differentiate.