Bitcoin Bounce Puts Altcoin Bears at Risk

Alternative cryptocurrencies like XRP, Ether (ETH), SOL, Tron’s TRX, Dogecoin (DOGE) and are tracking bitcoin higher, as they usually do. The altcoin bounce comes days after traders sold these tokens, pricing in the possibility of defunct exchange FTX securing approval from the bankruptcy court to sell assets from its multi-billion dollar cryptocurrency holdings. SOL fell over 8% on Monday, leading the decline in altcoins after a court filing showed FTX’s solana holdings at $1.6 billion.