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- Solana has reclaimed $80, putting the $100 target back in focus as ETF and tokenization activity improves.
- Bitcoin’s move toward $70K supports the broader crypto rally, but rising profit-taking could limit further gains.
- Leverage and weak SOL/BTC confirmation remain risks, meaning the path to $100 is possible but far from guaranteed.
The crypto market is showing fresh signs of strength after a sharp move higher on August 19, with Bitcoin approaching $70,000 and Solana reclaiming the $80 level. The rally has revived expectations that the Solana price could reach $100 by the end of Q3, although traders still need stronger confirmation before that target can be considered secure.
Solana gained more than 10% during the move, benefiting from renewed risk appetite across digital assets. Bitcoin’s breakout also helped lift altcoins, but questions remain over whether the latest advance represents the beginning of a sustained trend or another short-lived rotation into riskier assets.
Solana Fundamentals Strengthen the $100 Case
Beyond price action, Solana’s underlying activity is adding support to the bullish argument. Tokenized stocks launched through Backpack and Sunrise have reportedly performed strongly during their first seven weeks, particularly outside traditional U.S. market hours.
That development highlights one potential advantage of blockchain-based markets: trading can continue beyond conventional sessions. At the same time, Solana ETFs recorded more than $10 million in weekly net inflows, their strongest result since the May cycle, according to SoSoValue.
Together, stronger tokenization activity and ETF demand suggest institutional interest in SOL may be increasing. However, fundamentals alone may not be enough to sustain the rally.
Liquidations Boost SOL, but Leverage Adds Risk
The move above $80 triggered a major wave of short liquidations. SolanaFloor reported that nearly $40 million in SOL shorts were liquidated within an hour, including a roughly $1 million individual position near $82. Arkham also identified a $40 million leveraged SOL long.
Such positioning can accelerate an upside move, but it can also make the market vulnerable to a sharp reversal. SOL/BTC remains below the 0.0013 resistance area seen earlier in July, leaving some analysts cautious about the strength of the rally.
Bitcoin Faces Its Own Test
Bitcoin’s move toward $70,000 followed a week of trading around $60,000-$64,000 and came as its Supply Sell-Side Exhaustion Constant reached historically low levels. The signal suggested selling pressure may have been weakening, but it did not guarantee a breakout.
Other indicators remain mixed. Bitcoin’s Adjusted Sell-Side Risk Ratio climbed to 20.23%, pointing to increased profit realization, while its regime score moved above 60%, supporting a bullish short-term outlook.
Spot flows also warrant caution. Bitcoin recorded roughly $233 million in net inflows over the latest period, while 30-day netflows reached about $556 million. Continued inflows could increase selling pressure if buyers fail to absorb profit-taking.
Solana’s move toward $100 has gained credibility from stronger fundamentals, ETF flows and renewed market momentum. Still, the rally remains vulnerable to leverage, profit-taking and Bitcoin’s ability to maintain its breakout.
Also Read: Bitwise Eyes Tokenized Solana ETF Shares: 5 Key Things Investors Need to Know
For SOL to convincingly extend higher, stronger SOL/BTC performance and sustained demand will likely be crucial. Without that confirmation, the $100 target remains possible—but fragile.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
