The cryptocurrency market is experiencing significant upside momentum, with almost all major cryptocurrencies registering notable gains.
Rise of the Crypto Market
Recent events have revealed an alternating pattern of growth among top cryptocurrencies as they take turns leading upward movements, indicating a temporary capital shift across different ecosystems.
Impact of US Elections on the Market
Bitcoin undisputedly led the crypto market rally immediately after Donald Trump won the US presidential election. The pioneer cryptocurrency rediscovered its bullish momentum and broke above an all-time high established earlier this year during the pre-Bitcoin halving rally.
Solana and Its Potential
It is worth noting that Solana (SOL) surged alongside Bitcoin in the initial stages of the post-election rally. The scalability-focused altcoin reversed a bearish trend, pushing upwards to record a new yearly high. However, SOL was later consolidated after rallying to $225, declining to the psychological $200 level.
The cryptocurrency market shows a significant revival, with leaders like Bitcoin and Solana playing key roles in this movement.
