SOL, ADA Lead Losses as Market Starts Week in the Red

The crypto market ticked tentatively upward this morning with bitcoin moving back above $40,000. Bitcoin settled back above the $40,000 mark having climbed as high as $40,370 during the European morning, having sunk below the $39,000 mark on Tuesday, down almost 20% on its peak following the listing of the first spot bitcoin ETFs in the U.S. two weeks ago. Solana’s SOL and Avalanche’s AVAX led the broader market higher, gaining around 8.5% and 11.5% respectively. The CoinDesk 20 Index, a liquid index that tracks the highest tokens by capitalization, is up around 3% in the last 24 hours.