The post Solana, XRP, Cardano Rebound as Bitcoin Digital Gold Narrative Gains Momentum appeared on BitcoinEthereumNews.com.

Key Notes The largest cryptocurrency, Bitcoin, jumped above $87,000, renewing digital gold comparisons. Solana gains over 5%, boosted by Canada ETF buzz. XRP and Cardano rally as alternative cryptocurrency momentum builds. The current Bitcoin BTC $87 419 24h volatility: 3.5% Market cap: $1.74 T Vol. 24h: $24.85 B price outlook has renewed conversations around its role as a store of value. It has revived the comparisons of the largest cryptocurrency as digital gold. Current market data shows that this new sentiment has a ripple effect across the broader digital asset market. Top coins like Solana SOL $140.0 24h volatility: 0.4% Market cap: $72.39 B Vol. 24h: $3.82 B , XRP XRP $2.12 24h volatility: 3.1% Market cap: $124.10 B Vol. 24h: $1.99 B , and Cardano ADA $0.65 24h volatility: 4.2% Market cap: $23.28 B Vol. 24h: $494.30 M have recorded gains in the past week. Bitcoin Breaks $87K as Investors Shift Focus From Dollar According to CoinDesk’s report, Bitcoin rose above $87,000 during Asian trading hours, up by 3.35% in 24 hours. This increase reversed recent losses and pushed the digital asset back into the headlines. The rally is linked to a growing belief among investors that Bitcoin is once again acting like digital gold. It is worth noting that this view, popular in Bitcoin’s early days, faded over time as the coin’s volatility increased. However, current market conditions are bringing back the narrative. According to reports, rising gold prices, which surpassed $3,380 per ounce on April 21, increased investor anxiety over inflation and weakened global currencies. Bitcoin is now mirroring this movement of gold, reflecting a shift in market perception. Analysts also point to trade-related tariffs and pressure on the US dollar as key drivers behind this change. According to the update, Nick Ruck of LVRG Research said…

---

Filed under: News - @ April 21, 2025 10:29 am