Bitcoin experienced a notable decline on Wednesday, dropping from around $66,000 to a low of $65,260. The downturn coincided with negative performance of the SPY and Nasdaq indexes. However, BTC quickly rebounded, climbing back up to $67,300, suggesting it may have found a local bottom. If it breaks yesterday’s low, the next support level to watch is $64,000. Notably, the Bitcoin ETFs saw a net inflow of $198.5 million, signaling institutional demand.
In contrast, Solana’s SOL has been on a tear, outperforming both Ethereum and Bitcoin as blockchain activity surges on its network. The current trend of memecoins, fueled by AI agents promoting and investing in tokens, is heavily focused on Solana. Additionally, open interest in Solana futures has surged by nearly 3 million SOL, equivalent to $506 million, over the past four days, signaling strong investor interest.
