BTC, ETH, SOL, XRP and DOGE trade higher as precious metals rally keeps macro focus
Major altcoins outperformed Bitcoin and Ether during quiet Sunday trading while precious metals continued their rally, keeping macro attention focused.Summary
During quiet Sunday trading, Bitcoin traded in a tight range near $88,000, while several major altcoins posted stronger gains, with XRP, Solana (SOL), and DOGE each climbing 1.1% to 1.3%, outperforming BTC and ETH. The broader crypto market capitalization rose slightly to $3.06 trillion.
Analysts noted Bitcoin's consolidation between $86,500 and $90,000, with key support levels identified around $86,500 and potential downside targets at $83,000 and $80,000 if support fails. On-chain data from Glassnode showed the short-term holder cost basis near $99,900, suggesting many recent buyers were underwater, while the active investors' mean sat near current spot prices.
Macro focus remained on the historic rally in precious metals, with silver up roughly 155% and gold up about 72% year-to-date, drawing comparisons to 1979 inflation levels. One analyst questioned the long-term viability of silver's rally compared to Bitcoin's network effects, suggesting silver could fall sharply if its narrative fades.
(Source：CoinDesk)