Crypto Market Update: Solana and Ethereum Outshine Bitcoin’s Decline

fin.co.id - The crypto market update this week reveals a fascinating dynamic between Bitcoin, Ethereum, and Solana. While Bitcoin struggles to hold above $113K, Ethereum and Solana are making significant strides, capturing trader attention with strong weekly gains. This divergence highlights how capital rotation in the market is shifting momentum from the largest cryptocurrency toward high-performing altcoins.

Bitcoin Struggles to Break Resistance at $115K

Bitcoin (BTC) remains the undisputed leader with a market cap of $2.25 trillion, but its price action tells a different story. Currently trading at $113,296, Bitcoin has dropped 1.64% in the last 24 hours and 2.29% over the past week. Daily volume sits at a strong $75.9 billion, reflecting active participation, yet price momentum appears capped.

The $115K level has emerged as a critical resistance. Market analysts suggest that a failure to reclaim this threshold could push Bitcoin into a consolidation phase. For traders, this means fewer explosive moves in the short term. Instead, Bitcoin may act as a stable anchor while funds rotate into assets with greater upside potential.

Despite its short-term weakness, Bitcoin’s role in the market is unchanged. It remains the primary store of value and liquidity driver. Institutional investors continue to view BTC as the backbone of the crypto economy, even if traders are currently chasing higher returns in altcoins.

Ethereum Stays Resilient Above $4,700

Ethereum (ETH) shows a different trajectory. At $4,758, ETH is down just 0.50% in 24 hours, but its 8.88% weekly gain highlights strong investor confidence. Trading volume is over $54 billion, confirming robust market activity. With 120.7 million ETH circulating, Ethereum continues to benefit from long-term fundamentals.

Key drivers include:

• DeFi activity: Lending, borrowing, and liquidity pools remain largely built on Ethereum, ensuring continuous demand.

• Staking ecosystem: With ETH locked for validation, circulating supply pressures are reduced, adding to price stability.

• Institutional adoption: Ethereum’s flexibility as a platform for decentralized applications makes it a preferred choice for long-term bets.

Ethereum’s ability to stay above $4,700 despite Bitcoin’s weakness suggests traders are positioning themselves for potential outperformance in the coming weeks. If momentum continues, ETH could test the $5,000 psychological level sooner rather than later.

Solana Becomes the Market’s Star Performer

Among top cryptocurrencies, Solana (SOL) is this week’s undisputed winner. Priced at $212.88, SOL has gained 1.45% in 24 hours and an impressive 14.98% over the past seven days. Backed by $11.8 billion in daily trading volume and a circulating supply of 540 million SOL, the asset is enjoying renewed attention from both retail and institutional players.

The reasons behind Solana’s rally are clear:

• Network performance: Solana continues to deliver high-speed, low-cost transactions, reinforcing its competitive edge.

• Ecosystem growth: NFT projects, DeFi applications, and gaming platforms are increasingly adopting Solana.

• Investor sentiment: Traders view SOL as a top alternative to Ethereum, fueling inflows during Bitcoin’s consolidation.