Shiba Inu and Solana each gain 5% as Bitcoin recovers $29,500 and Ethereum drops to $1,850

While Ethereum was trading higher, up more than a percent but unable to surge over $1,850-levels, Bitcoin gained more than two percent to reclaim the 29,500-mark.

Prior to the important economic data anticipated later this week, Bitcoin and other popular crypto currencies were mainly higher on Wednesday. Since the $30,000 threshold represents a crucial milestone, the focus of the Bitcoin story has turned entirely to the Bitcoin ETF, which is currently less volatile. However, macros are still important.

On Wednesday, Bitcoin was back in trade as the biggest cryptocurrency token increased by more than 2% to reclaim the 29,500 level. Although Ethereum, its biggest rival, was trading higher and was up more than 1%, it was unable to quickly surpass the $1,850 levels. The biggest altcoins had somewhat upward price movement.

Before settling at trading above the $29,500 mark, bitcoin prices crossed the $30,000 mark. This change may be the result of China reporting lower trade data for July and a decrease in the yield on the US 10-year Treasury. Solana, Shiba Inu, Hedera, and TonCoin all increased during the past day while Ethereum kept trading in the $1,800–1,900 zone.

With a few exceptions, Wednesday saw higher trade for all of the leading crypto tokens. While Polygon gained 4%, Shiba Inu and Solana each had gains of almost 5%. XRP increased by 3%, while Cardano, Polkadot, and Litecoin each had a 2% increase. Tron and Bitcoin Cash both lost roughly 1%, placing them among the losers.

The market capitalization of all cryptocurrencies was much higher at $1.19 trillion, up as much as 2% in the previous day. The entire trade volume did, however, increase by roughly 13% to $36.67 billion.