The price of Solana soared over 14% to $152, resulting in $20 million worth of short liquidations. This bullish movement aligns with Bitcoin’s rise above $93,000, contributing to a broader market liquidation totaling over $600 million.
Optimistic market sentiment is fueled by recent U.S. Policy changes regarding tariffs on China, positively influencing investor confidence. Even with 11 million SOL unlocked from FTX, analysts believe this was anticipated and helped maintain SOL’s upward trajectory.
Prominent investors, including ARK Invest and Galaxy Digital, have begun reallocating resources towards Solana, indicating a positive shift in institutional confidence. Technical analysis suggests a bullish pattern for SOL relative to Ethereum, potentially marking a significant trend change.
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