- Solana failed to break the $100 level after briefly rallying to $98 on May 12
- Hotter-than-expected inflation data and Bitcoin’s drop below $80K pressured the broader crypto market
- Uncertainty around the CLARITY Act and rising geopolitical tensions added fresh risk-off sentiment
After climbing to roughly $98 earlier this week and coming within touching distance of the psychologically important $100 level, SOL reversed sharply and fell back toward the $90 range as broader crypto markets weakened.
According to CoinGecko data, Solana is now down roughly 4.5% over the past 24 hours, though it still remains positive across most medium-term time frames.
Bitcoin’s Pullback Hit Solana Hard
The biggest immediate factor behind SOL’s decline appears to be Bitcoin’s own correction.
BTC briefly touched the $82,000 level earlier this week before reversing lower and slipping back below $79,000 during Thursday trading. As usual, once Bitcoin weakens, high-beta altcoins like Solana tend to amplify the move.
That relationship remains one of the strongest forces driving short-term crypto market behavior.
Geopolitical Risks Are Adding Pressure Too
Outside crypto itself, geopolitical tensions also continue weighing on market sentiment.
Recent reports surrounding failed ceasefire discussions involving Iran added another layer of uncertainty to already fragile global markets.
Whenever geopolitical risk rises, investors generally reduce exposure to speculative sectors first — and crypto almost always sits near the top of that list.
Can Solana Still Rebound?
Despite the rejection at $100, Solana’s broader structure still looks significantly stronger than it did earlier this year.
SOL remains positive on weekly and monthly time frames, staking activity remains elevated, and investor interest around the network’s payment infrastructure and ecosystem growth has not disappeared.
But honestly, the next move probably depends less on Solana itself and more on whether Bitcoin can stabilize and whether macro conditions stop deteriorating further.
If BTC regains momentum and regulatory clarity improves, SOL likely makes another run at $100 fairly quickly. If macro pressure continues building, traders may need to prepare for more volatility first.
