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On October 30, the first Solana in the United States Spot ETF (symbol BSOL), the trading volume exceeded US$70 million on the second day after listing It set a record of 850 new ETFs launched in the United States this year, the highest trading record on the first day, which can be regarded as a freezing atmosphere in the industry. There is good news. Compared with the previous Big Pie and Ether, the first-day trading volume of Big Pie ETF reached 4.6 billion U.S. dollars, and the first-day trading volume of Ether ETF reached 1 billion U.S. dollars. Although there is a huge gap, in the past, there were many Ether ETFs, which created a concentration effect. This time, SOL only has one. Moreover, the ETF performance of crypto tokens is just a lucky draw today, and the ability to attract money in the future is a long-term battle. So in the future, can SOL rely on the gold-absorbing ability of ETFs to reach new highs in this bull market? Let’s first review the judgment before connecting: In March and May 2024, we separately reminded SOL of the risks. Although issuing a large number of memes has attracted market enthusiasm, in the long run, it will do more harm than good to the value of the project. Can SOL's current bull market break the historical high of $259? In May 2025, Ethereum was in its power stage. Since the SOL risk was seen through the market, the general trend has passed. The subsequent rebound above 180 US dollars is to lure bulls, so that people who do not understand can take over and miss other opportunities. How much further can SOL rise in 2025? Is it possible to buy the dip now? Now from the market point of view, part of it has been verified. After the risk warning in 2024, although SOL was fluctuating, it was generally oscillating in a high range. Although there was an increase in May 2025, it was mostly whales shipping, and retail investors were trapped without knowing why.  Let’s look at it from the market today 1. The weekly line has fallen below the second rising trend line of the previous period. 2. For more than a year, it seems that the long and short positions are balanced, but in fact the power of the bulls is getting weaker and weaker. 3. It has recently fallen below the "slightly upward sloping parallel channel", which is a trap for bulls.  So on the whole, even if there is ETF support, it is just expanding the exit channel of giant whales from the crypto market to the stock market. However, with such a trend and good news, if you cannot see the essence through the market and only listen to the news, you may be extremely confused. |
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