Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains
Solana's SOL and memecoins like popcat (POPCAT) led crypto market gains, while bitcoin (BTC) remained mostly flat, adding under 1% in 24 hours. Bitcoin dominance reached over 57%, its highest since April 2021, indicating a preference for BTC over altcoins. Ethereum continues to lose market share, with BTC's capitalization rising to 57.3%. BTC is near a support level at $66.8K, with potential for a deeper correction if broken. SOL increased by 5% to $173, marking a 14% weekly gain and setting a record high against ether. The Solana ecosystem is thriving, driven by active trading in small-cap memecoins and AI-themed projects. Active addresses rose to 85,000, with 37,000 new wallets. Over 40,000 new tokens were created on Solana in the past 24 hours.
