Cryptocurrency Market Update: Bitcoin and Solana Facing Pressure Amidst Major Losses
Bitcoin experiences a 5% drop as $2 billion in BTC is shifted by US Marshals, with Solana's SOL leading losses at 6%. Market optimism fades without new drivers, potentially increasing volatility due to central bank decisions.
Newly-launched ETH ETFs see $97 million in outflows. Bitcoin faces risks of liquidations below $64K, with Grayscale introducing a Bitcoin Mini Trust and GBTC observing outflows.
Analysts warn of long liquidations as BTC hovers below $66K. Solana's SOL surges but questions arise over its peak at $193, facing resistance at $190 and correcting to $179.
Concerns over Solana's valuation arise amidst stagnating TVL, while Ethereum struggles against key resistance at $3,500. ETH faces downside pressure compared to BTC and other layer-1 tokens, with Solana gaining market share.
The press radar on this topic:
Bitcoin analysis warns BTC price liquidations will start below $64K
3 Ethereum price metrics point to further downside in ETH
Solana price rallies to $193 but is it SOL’s local top?
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