How Bitcoin can help Solana rise to a new ATH

price could be set for a new All-Time High according to Daniel Cheung, the co-founder of Syncracy Capital. Cheung posted this on X .“Dispersion of returns to continue but we should start to see many new and older alts make new ATHs as well (I.e.At press time, Bitcoin’s price was $67,164. This was a 10.17% increase in the last seven days. Solana’s price, as of this writing, was $173.35, representing a 19.76% increase within the same period.before the halving.

Solana’s all-time high was $260.06. This happened during the bull market of 2021. This cycle, the price of the token climbed past $200. But bears ensured that the SOL failed to tap its previous high.If the reading is close to the negative region, it means that the price does not move in the same direction.

However, a close positive reading and close to +1 indicates a strong correlation. As such, both Solana and Bitcoin seem to move together on most occasions.Going into the week, there are predictions that BTC might revisit $70,000. If achieved, then it means SOL’s price might rise past $200 too. But to hit a new ATH, the price of SOL has to increase by more than 55%. In terms of the perception around both cryptocurrencies, AMBCrypto observed that the Weighted Sentiment was negative.

For Solana, it was -0.745, meaning that the broader market was not convinced that the prices of SOL and BTC would continue to increase.While this might not happen in a few weeks, SOL’s price might surpass its previous high before the end of the next quarter.Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free.

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