#JoinCreatorCertificationProgramToEarn$10,000 #CryptoMarketPullback

#SOL $SOL (Solana)'s Bitcoin Tie Sparks Price Crash
Solana's price continues to fall, increasing investor losses and reinforcing the downtrend in the overall cryptocurrency market.
Despite periods of recovery in recent months, the altcoin is currently facing intensifying downward pressure. Its close correlation with Bitcoin may be a significant factor in Solana's recent collapse.
The correlation between Solana and Bitcoin is currently extremely high at 0.97, indicating that SOL's price movements closely track those of Bitcoin, the world's largest cryptocurrency. This high correlation means that any weakness in Bitcoin's market performance directly impacts Solana's trajectory.
With Bitcoin hovering near the $100,000 level and struggling to break higher, Solana's price remains at risk of a downside.
The lack of upward momentum from Bitcoin limits SOL's standalone growth potential and raises concerns about the token's near-term stability.
From a macro perspective, Solana's Net Unrealized Profit and Loss metric has entered capitulation territory, suggesting investor caution.
Historically, declines in this zone have marked critical turning points for Solana, often indicating that investors prefer to hold rather than sell at a loss, thus mitigating further declines.
Currently, Solana's NUPL metric is trading just inside the capitulation range. However, if Bitcoin continues its weakness, this metric could deepen further.
Ironically, this decline could create the conditions for a recovery, as capitulation phases historically precede accumulation and recovery periods for Solana.
Solana is trading at $157, extending its month-long downtrend. The token's performance remains dependent on Bitcoin's movements, and further declines are likely if BTC fails to stabilize.
In the short term, Solana could face additional downward pressure and fall to $150 or even $146. Such a drop could spark renewed buying interest and help SOL rally toward $163 and potentially $175.
However, if Bitcoin price continues to deteriorate, Solana's downtrend could intensify. A break below $146 could push the token to the $140 level, deepening investor losses and invalidating any bullish recovery theory in the near future.
#SOL #Solana