The price of Bitcoin surges above $61,000, while Solana leads other cryptocurrencies in their upward trend.

The broad sell-off in crypto assets occurred a day after cryptocurrencies fell below $60,000 for the first time since early May.

On Tuesday, Bitcoin experienced a 3.1% increase to $61,741.78, as reported by Coin Metrics. This rise occurred concurrently with a recovery in Nvidia and the Nasdaq Composite, both of which had suffered their worst days since April in the previous session.

"As the stock market experiences a shift, it is likely that panic selling will occur in crypto as well, driven solely by emotions and the need to meet margin calls," stated Noelle Acheson, an economist and author of the "Crypto is Macro Now" newsletter. "Yesterday, crypto experienced some risk asset uncertainty."

On Tuesday, the crypto market leader was Solana, which jumped 8% after the Solana Foundation announced an update that will allow users to share on-chain actions as shareable links around the internet. The token tied to Chainlink, which provides data feeds on the Solana network, also gained 7%.

The value of coins associated with Ethereum competitors, including Cardano's ADA, Polkadot, and Binance Coin, increased significantly.

According to DYOR CEO Ben Kurland, the news that over a billion people can now easily use SOL on Solana is a positive development for the alt coin and its ecosystem. This momentum is likely to carry over into the broader DeFi and Web3 marketplace, as traders are betting on it.

He added, "I believe it will take some time to see the full impact of this news, and I predict we'll return to the market action we experienced earlier this week."