High-risk cryptocurrency trader James Wynn is making a U-turn with his Bitcoin gamble. After closing his $1.2B BTC long position, the Hyperliquid trader has opened a new $111 million Bitcoin short with a liquidation price at $149,100. James Wynn Bets Against A Bitcoin Rally With $111 Million Short James Wynn has rocked the ecosystem with a $111.8 million short position on 1,038 BTC hours after closing his previous long position. According to an X post by Whale Insider, the Hyperliquid high-risk trader faces liquidation at $149,1000 with a 40X leverage. The perpetual futures trade follows the closing of a $1.2 billion Bitcoin long position over the weekend. James Wynn faced liquidation at $105K, with experts like CrediBULL Crypto betting against the high-risk trader. Barely 24 hours ago, James Wynn predicted Bitcoin price to climb as high as $121,000, setting a new all-time high this week. However, the new short position… Read More at Coingape.com
Bitwise just filed for a NEAR ETF, the first such application in the United States. In the last few weeks, the firm has attempted to create several new altcoin ETF products based on DOGE, APT, and others.
NEAR itself has been comparatively quiet in 2025, but this application could attract increased interest in the project.
Presently, the filing is very barebones, and the public has little information. If Bitwise or the SEC posts the full application in the future, that could help clear up a few questions.
For now, it may be safe to assume that the NEAR ETF resembles Bitwise’s other recent altcoin efforts.
NEAR is a Proof-of-Stake L1 blockchain optimized for dApp development. Launched in late 2020, it splits blockchains into sub-chains with independent validators to increase transaction processing efficiency.
The altcoin saw heightened interest at the tail end of last year but has had a relatively smaller presence throughout 2025.
Now that Bitwise wants to create a NEAR ETF, that might attract some attention. The asset’s price has been on the upswing; after a slump in mid-April, it increased over 25% in the last two weeks.
Obviously, these gains have nothing to do with Bitwise’s filing, but the ETF effort might help build forward momentum.
NEAR Protocol Monthly Price Chart. Source: BeInCrypto
Bitwise’s current plan involves several other “first of its kind” ETFs, and a NEAR product might face a crowded market if approved. As the number of altcoin ETFs increases, the law of diminishing returns could have a negative impact.
Solana price tumbled 4% to hit $169 on Friday, May 16, after bankrupt crypto exchange FTX confirmed a $5 billion creditor payout.
On Thursday, the Solana (
Solana Price Action, May 16, 2025
SOL) price fell to $169, losing intraday support at $170 for the first time in May. This decline follows news that FTX will unstake and redistribute assets to fulfill its second major payout.
FTX’s estate said on May 15 that it would begin distributing $5 billion in digital assets to claimants on May 30. The payout will be processed via BitGo and Kraken, with settlement expected within 1–3 business days.
FTX Payouts aligns with 1.4B SOL Staking Withdrawals
Solana price weakness coincides with an uptick in bearish positioning across Layer-1 tokens. According to StakingRewards, over 1.4 million SOL has been unstaked in the past seven days.
Solana Staking Flows, May 16, 2025 | Source: StakingRewards.com
This move likely includes large portions held by FTX, which has been working to liquidate assets. At $169 per token, the un-staked SOL is valued at approximately $236 million.
Such large token movements typically generate sell pressure, especially if the assets enter exchanges or OTC desks for liquidation.
Solana’s sell-off appears part of a broader downturn in Layer-1 tokens. Coingecko data shows Ethereum fell 2.7% to $2,500, while XRP and Cardano posted 4% losses each.
This synchronized decline suggests macro-driven sell pressure, likely triggered by investors locking in gains before FTX’s payout introduces additional volatility risks.
Can Bitcoin Rally and ETF Optimism Anchor Solana Markets?
Despite SOL’s pullback, Bitcoin (BTC) price has remained above $100,000 for seven consecutive trading days, the first such stretch since January 2025.
This stability could help contain broader market panic. Historically, BTC resilience often stabilizes sentiment in large-cap altcoins such as Solana.
Solana ETF Approval Odds hit 82%, May 2025 | Source: PolyMarkets
PolyMarkets data currently shows an 82% probability of SEC approval for altcoin ETFs by June 16. This could position Solana as a preemptive buy for strategic traders looking to front-run a potential SEC approval verdict next month.
Looking Ahead: Critical Weeks Ahead for Solana Price
The 4% SOL price dip from Thursday reflects both internal sell pressure and broader market rotation. FTX’s $5 billion distribution and associated unstaking remain the dominant narrative this week.
For bulls, reclaiming $170 and holding above $150 is essential to sustain momentum. With ETF optimism still looming and BTC holding firm, a rebound remains plausible, if fresh market demand driver emerge to offset the ongoing Solana sell-offs.
Until then, Solana price remains vulnerable to further downside risk, especially if large wallet holders join the sell-off.
Solana Price Forecast Today: SOL Faces Pressure Below $175 With Risk of Breakdown Toward $160
Solana (SOL) price forecast charts show vulnerability signals following a sharp 9.67% intraday drop on May 15, with only a modest 1.34% rebound to $171.42 failing to inspire strong bullish conviction.
Thursday’s session showed price closing just above the Volume Weighted Average Price (VWAP) at $170.53, but the overall market structure remains fragile. The prior day’s high-volume sell-off, recorded at 7.17 million, reflects a meaningful rejection near the $185 level and a subsequent loss of momentum from buyers.
Technically, Solana has now slipped below the mid-point of the Keltner Channel, with $170.53 acting as weak interim support.
More so, SOL price action is notably hugging the lower half of the volatility envelope, and continued failure to reclaim the upper KC resistance at $181.06 casts doubt on bullish momentum.
Solana price forecast | SOLUSDT
Adding to downside risk, Bitcoin price forecast today, while relatively stable above $103,000, lacks clear bullish momentum. Without strong bullish momentum from BTC, altcoins like Solana are left more exposed to volatility risks.
Volume delta trends further emphasizes the sell-side pressure, with recent negative bars outpacing buying, suggesting distribution rather than accumulation at these levels.
Should SOL lose support at $170.53, the next clear downside target emerges at $161.74 to the lower Keltner band.
A break below this level would confirm a short-term bearish reversal, opening the door to $145 to $150, especially if macro sentiment weakens or Bitcoin falters.
Until Solana must post a decisive close above $175 with accompanying volume, for bulls to stand a chance of invalidating the bearish forecast.
Since Trump’s election, XRP has been on an impressive run, surging 350%, outperforming the rest of the market. Bitcoin has gained around 60%, reaching new highs around $111K. Although it briefly bounced back below $80K during the tariff tensions, it has now climbed back above important resistance levels.
Other altcoins like Ethereum and Solana have barely moved, up 10% and 9% respectively. Cardano is also up by just 12%. Clearly, XRP is running the show.
XRP had been falling in price since January 17, but on May 10, it broke that downward trend. Analysts said that Bitcoin is overbought, meaning its RSI is high, often a signal that the price has gone up too fast and might pull back soon. On the other hand, XRP is oversold and its RSI is low which suggests that it is undervalued and is set for a rebound. With buyers jumping back in, XRP could be gearing up for a rally.
Mid-Cap Altcoins Might Rise Again
The Others/BTC ratio (total crypto market cap excluding the top 10 vs. Bitcoin) shows how well the smaller altcoins perform against BTC. A rising ratio shows that altcoins outperform, while a falling ratio indicates that Bitcoin is leading and altcoins are lagging.
Currently, the ratio has hit a key support zone, and if it holds, we could see a surge in small and mid-cap altcoins. But some analysts note that altcoins have hit their weakest point against Bitcoin this entire cycle, and the lowest weekly close since 2021 and a comeback may be far off.
10x Research shared that altcoins are struggling as Bitcoin races past $111,000 on strong ETF and institutional demand. While AAVE and Hyperliquid soared with gains of 13% and 42%, many altcoins like Trump Token, SUI, DOGE, ADA, and LINK faced sharp declines. XRP saw a brief spike but remains weak. Solana and BNB showed mixed results. So, a tough cycle may be ahead for most smaller tokens as Bitcoin continues to dominate.
The post How Altcoins Fared Since Trump’s Election: XRP’s 350% Rally vs. Bitcoin’s 58% Rise appeared first on Coinpedia Fintech News
Since Trump’s election, XRP has been on an impressive run, surging 350%, outperforming the rest of the market. Bitcoin has gained around 60%, reaching new highs around $111K. Although it briefly bounced back below $80K during the tariff tensions, it has now climbed back above important resistance levels. Other altcoins like Ethereum and Solana have …
