SOL has closed down for six straight weeks. If it closes down again this week, that’ll make seven.
Let’s count: the week at the end of September closed around 122, then it was 121.6, 111.35, 104.11, 101.4, 94.53, 86.54, and now it’s just above 83. It’s also down more than 3% in the past 24 hours. From 122, that’s already a drop of over 30%.
Honestly, this kind of decline feels worse than a crash. There isn’t one particularly scary day—it’s just a little lower every week, leaving dip-buyers trapped one week at a time 🫠
Breakpoint kicks off in London this weekend, from the 15th to the 17th. As usual, a bunch of good news is likely to come out of the ecosystem. But looking back at the past few years, it’s not uncommon for people to hype up expectations before the conference and sell the news on the day.
Looking at the broader picture, BTC is still hovering around 74,000. After hotter-than-expected CPI, concerns about a Fed rate hike at its December meeting haven’t gone away, and ETFs have also seen consecutive outflows. With BTC unable to hold its ground, it’ll be tough for high-beta coins to rally independently.
82 is the level a lot of people have drawn. If it breaks, the seventh consecutive bearish weekly candle is basically confirmed.
#SOL #Solana #加密市场 $SOL $BTC
Let’s count: the week at the end of September closed around 122, then it was 121.6, 111.35, 104.11, 101.4, 94.53, 86.54, and now it’s just above 83. It’s also down more than 3% in the past 24 hours. From 122, that’s already a drop of over 30%.
Honestly, this kind of decline feels worse than a crash. There isn’t one particularly scary day—it’s just a little lower every week, leaving dip-buyers trapped one week at a time 🫠
Breakpoint kicks off in London this weekend, from the 15th to the 17th. As usual, a bunch of good news is likely to come out of the ecosystem. But looking back at the past few years, it’s not uncommon for people to hype up expectations before the conference and sell the news on the day.
Looking at the broader picture, BTC is still hovering around 74,000. After hotter-than-expected CPI, concerns about a Fed rate hike at its December meeting haven’t gone away, and ETFs have also seen consecutive outflows. With BTC unable to hold its ground, it’ll be tough for high-beta coins to rally independently.
82 is the level a lot of people have drawn. If it breaks, the seventh consecutive bearish weekly candle is basically confirmed.
#SOL #Solana #加密市场 $SOL $BTC