The cryptocurrency market has faced a stark correction today. Bitcoin (BTC), the largest cryptocurrency by market cap, has fallen 4.8% in the daily charts and is currently hovering around the $43k level. Moreover, the global crypto market cap has fallen by 4.5% in the last 24 hours to $1.73 trillion.
The latest correction could be due to reports about the SEC (Securities and Exchange Commission) potentially rejecting a spot BTC ETF (Exchange Traded Fund). Moreover, Bitcoin (BTC), the leader, took the rest of the market along.
Let’s look at the top three crypto tokens to watch this weekend.
Top 3 Cryptocurrencies to Watch This Weekend
Bitcoin (BTC):
BTC, being the market leader, should have everyone’s eyes on it. Although the cryptocurrency has plummeted recently, it may rally again very soon. There is a high chance that the US SEC will approve one or more spot BTC ETFs sometime this month. If this comes to fruition, BTC’s price may soar. The decision may usher in a new bull run for the crypto market, and BTC may hit a new all-time high.
Also Read: Bitcoin: BlackRock Delays $10 Million BTC Purchase, Here is Why
Arbitrum (ARB):
While the rest of the market faces a correction, ARB recently hit a new all-time high of $2.04. The cryptocurrency has since fallen 3.90% but is still up by over 80% in the monthly charts. Moreover, its total value locked (TVL) surpassed the $2.5 billion mark. Users have reported increased rewards and lower fees, which are a part of the project’s incentives plan.
However, ARB could face a correction soon as the market trend does not agree with its current rally.
Solana (SOL):
Also Read: Solana: How High Can SOL Rise In January 2024?
Solana (SOL) is among the best-performing cryptocurrencies of 2023. Since January 2023, SOL’s price has surged by over 640%. Moreover, the asset’s bullish outlook may continue in 2024 as well. The recent correction has brought SOL’s price to around $100, and prices may continue to fall. The situation has presented a buying opportunity for new investors or investors wanting to buy more.