SOL And AVAX Continue To Diverge As Bitcoin Tests $38,000 Once Again.

#Bitcoin made another jump in yesterday's transactions, making another move towards its 17-month peak of $38,000, with a daily increase of 6.5%. Among the altcoins with high market value, Solana (SOL) and Avalanche (AVAX) continue to attract attention with their increase in value in the last 24 hours.

In the latest developments regarding Bitcoin, it was seen that the SEC's postponement of Hashdex's spot #ETF application to 2024 was not negatively received by crypto investors. So much so that the expectation in the market that the SEC will give the green light for spot ETFs in the first days of 2024 remains valid. Therefore, while the optimism in the market continued, the demand for Bitcoin remained alive in the light of the data on the US economy.

Among the important developments of this week, expectations that the Fed has ended the interest rate increase process have become stronger as the CPI in the USA came in below expectations. In addition, the low PPI figures announced yesterday and the fact that the resistance in retail sales were broken pointed to the cooling in the US economy and were factors that increased risk appetite.

On the other hand, the #Bitcoin market, which loosened somewhat in the first half of this week following last week's upward momentum, was quickly compensated for the losses of the last 4 days following yesterday's rapid return. Meanwhile, Coinglass data showed that $156 million of futures positions were liquidated in the crypto futures market in the last 24 hours following increased volatility. $121 million of the liquidations belong to investors who opened sales positions with the view that the downward momentum in recent days will continue.

In the altcoin market, Ethereum regained the psychological price level of $ 2,000 in yesterday's buying wave. However, in the top 20, the altcoins with divergent price movements in the market were #SOL and AVAX .
$BTC $SOL $AVAX