Solana (SOL) price is facing weakness as bearish headwinds persist in the crypto market. Moreover, SOL continues to underperform against Ethereum (ETH), with the SOL/ETH ratio plunging 25% in less than three weeks to its lowest level in nearly a month. Amid weakening bullish momentum, will Solana price crash to $130 or bounce higher? Solana Price Weakens as SOL/ETH Crashes The momentum around Solana price is growing weak amid a crash in the SOL/ETH ratio. As Coingape reported, Solana’s underperformance is driving Ethereum’s gains, with the latter recording a mild 1.3% drop in seven days, notably lower than SOL’s 11% drop. At press time, the SOL/ETH ratio stood at 0.0613 after shedding more than 25% of its value since May 8. At this level, the ratio was testing a multi-month support level that had previously determined whether the price continues with the upward trend or drops lower. SOL/ETH is losing… Read More at Coingape.com
Bitcoin price took a major hit to fall as low as $78,000 for the first time since the middle of March. There is speculation that the worst is yet to come for Bitcoin with Monday open tipped to herald fresh bearish sentiments.
Bitcoin Price Falls Below $79K Ahead Of Monday Open
According to CoinMarketCap data, the cryptocurrency market is bleeding and Bitcoin is carrying its fair share after losing nearly 6% over the last day. The steep decline saw Bitcoin dip under $80K and slide to reach a daily bottom of $78,574 for the first time since mid-March.
Despite the steep drop, Bitcoin’s daily trading volume is surging at $26.61 billion, an 85% spike in the last 24 hours. The sudden decline comes barely a day after reports of Bitcoin decoupling from the S&P 500 to become a safe haven asset.
There are several reasons for Bitcoin’s recent decline with global trade tensions considered a key culprit for the slump. US tariffs and China’s retaliation have forced investors to play safe till the storm blows over, increasing Bitcoin’s selling pressure. Furthermore, cryptocurrency liquidations of nearly $600 million adversely affect Bitcoin price.
Fox Senior Correspondent Charles Gasparino shared a scoop from a market analyst that as markets open on Monday, it may herald selling pressure. Investors are bracing for impact after recent market performance has been largely underwhelming and the specter of US blanket tariffs looms in the distance.
“Monday is shaping up to be the ultimate pain day,” said Gasparino on X, hinting at a broader selloff for Bitcoin.
Is The Bull Market Over?
There is growing chatter in cryptocurrency circles that Bitcoin is in a bear market given its current price performance. CryptoQuant CEO Ki Young Ju argues that the Bitcoin bull market is over, citing a string of on-chain data.
In his analysis, rising Bitcoin Realized Cap and stagnant market capitalization confirm that the bears are firmly in charge. Ju predicts that the bearish sentiment around Bitcoin can last for six months, dousing optimism for a short-term recovery.
Bitcoin’s recent price movement sees it cap off a torrid Q1, the worst in a decade after it fell by nearly 7%. The top cryptocurrency is dragging altcoins underwater with Ethereum losing a staggering 11.24% to trade at $1,590 as ETH price remains stuck under $2,000.
Other altcoins are undergoing a torrid patch with SOL and DOGE losing over 10% over the last day. ADA has shed 10.40% while XRP and BNB have lost 7.77% and 6.36% respectively. The global cryptocurrency market capitalization sits at $2.62 trillion as investors scan the horizon for a short-term price spurt ahead of Monday’s market opening.
World Liberty Financial, Donald Trump’s DeFi project, has once again started buying Bitcoin and Ethereum after a brief hiatus. The recent purchase comes as the crypto market recovers from correction earlier this week with BTC moving past $92,000 and ETH surging to over $2,300. As per the on-chain data, the DeFi project has invested $10 million each in both these top two cryptocurrencies.
World Liberty Financial Makes Fresh Purchases of WBTC, ETH
World Liberty Financial, a fund led by former U.S. President Donald Trump, has resumed significant activity in the crypto market. As per on-chain platform Spot On Chain, the fund has moved a total of $25 million USDC into a newly created multi-signature wallet a few hours back. The fund has executed the following purchases:
4,468 Ethereum (ETH) for $10 million at a price of $2,238 per ETH.
110.6 WBTC for $10 million at $90,420 per Bitcoin.
3.42 million MOVE tokens for $1.5 million at $0.439 per token.
Approximately $3.5 million USDC remains in the wallet, sparking speculation of additional buys in the near future. The Donald Trump’s DeFi project has already launched a macro strategic reserve for its crypto expansion. This purchase by World Liberty Financial underscores renewed interest in major cryptocurrencies and altcoins by institutional investors.
Crypto Market Recovers, BTC, ETH Gains Strength
Following a brutal crash earlier this week, Bitcoin, Ethereum and the broader crypto market have staged a strong recovery as whales and big players have charged in to buy the dips. Investors are now betting on the global liquidity boost and the surge in M2 money supply.
Crypto commentator Colin Talks Crypto has drawn attention to a notable spike in the Global M2 Money Supply chart, highlighting a new vertical increase on the far-right side of the chart.
Source: Colin Talks Crypto
“The rally for stocks, Bitcoin, crypto is going to be epic,” he stated, pointing to March 25th as the approximate timeline for the anticipated surge. Crypto analyst Rekt Capital has weighed in on Bitcoin’s recent price recovery, noting that weak hands have exited the market, while larger investors seized the opportunity to buy the dip.
Despite Bitcoin’s promising rebound, the analyst cautions that the cryptocurrency isn’t entirely in the clear yet. Rekt Capital highlighted a key wedge formation on the charts, suggesting that if Bitcoin breaks out to the upside, a 25% bullish rally could unfold in the coming days. The analyst has given a mid-term target of $120,000, highlighting growing optimism for the asset.
Source: Captain Faibik
All eyes on Crypto Summit
US President Donald Trump will be attending the first White House Crypto Summit along with other industry leaders and CEOs. Renowned experts, including Michael Saylor and Matt Huang, are set to participate in the upcoming summit, aiming to drive the development of progressive digital asset policies.
