Most Volatile Weekend in a Year as Solana Dominates While Bitcoin Recovers

Solana has surged by 7% in the last 24 hours while Bitcoin takes a pause, down by 7% from its recent all-time high.

Bitcoin experienced its most volatile weekend in a year, sliding to as low as $64,550 after hitting a new all-time peak of $72,760 on Thursday, March 14. Currently, Bitcoin has rebounded, trading around $68,300 at the time of writing. Nevertheless, the weekend witnessed several price swings ranging between 3% to 7%.

Since the launch of Bitcoin ETFs in the US earlier this year, Bitcoin has seen relatively stable weekend trading, with the majority of volatility occurring during US trading hours early in the week. However, a closer look at weekend periods throughout 2023 indicates a trend of subdued weekends for much of the year.

The vertical bars on the charts above represent Bitcoin’s trading on Saturdays and Sundays throughout 2023 and 2024. Unlike the recent weekend, most weekends experienced minimal price fluctuations of around 2-3%. Bitcoin’s fear and greed index continue to signal ‘extreme greed,’ albeit dropping slightly from last week’s peak levels.

In the broader market, positive movements are evident over the past 24 hours, with most assets recording gains over the last seven days. Notably, Solana has witnessed a remarkable 36% surge over the week, outpacing Bitcoin and leading the market.

However, Dogecoin, Cardano, and Ethereum are among the few digital assets that have not yet recovered to their recent highs over the past seven days. Presently, only Bitcoin and BNB Chain are within 20% of their respective all-time highs.

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