{"id":626912,"date":"2024-06-28T14:00:03","date_gmt":"2024-06-28T14:00:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=626912"},"modified":"2024-06-28T13:59:08","modified_gmt":"2024-06-28T13:59:08","slug":"spot-solana-etfs-recovery","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana\/spot-solana-etfs-recovery\/","title":{"rendered":"Spot Solana ETFs: Analyst Says Don\u2019t Get Too Excited About The Market Recovery"},"content":{"rendered":"

Crypto analyst Ali Martinez<\/span><\/a> has warned the crypto community not to get too excited about the recent market recovery trigger by Spot Solana ETFs filing. Bitcoin (BTC) and the broader crypto market witnessed a relief bounce following <\/span>recent bullish developments<\/span><\/a>, but the analyst highlighted what could send the market into a downtrend again.\u00a0\u00a0<\/span><\/p>\n

Why The Crypto Community Should Not Get \u201cToo Excited\u201d After Solana ETFs Rally<\/h2>\n

Martinez mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that the crypto community should not get too excited because <\/span>$22 million will be liquidated<\/span><\/a> from the crypto market if Bitcoin drops to $60,700. A significant amount in liquidations could lead to further decline in the crypto market, especially with other traders and investors looking to close their positions for fear of being liquidated.\u00a0<\/span><\/p>\n

Related Reading: Why Is The Bitcoin Price Down Today?<\/a><\/div>\n

Martinez issued this warning following the market rebound made by Bitcoin and altcoins. This rebound followed news that asset manager VanEck had filed for a <\/span>Spot Solana ETF<\/span><\/a> with the <\/span>US Securities and Exchange Commission (SEC)<\/span><\/a>. Solana, in particular, saw a price gain of over 8% and rallied to as high as $150 following the news.\u00a0<\/span><\/p>\n

The crypto market was also buoyed in anticipation of the <\/span>US presidential debate<\/span><\/a>. The crypto community had anticipated crypto being a major talking point during the discussion, although that didn\u2019t happen. Regardless, there is still enough reason for the crypto market to be excited, as VanEck\u2019s filing for the first-ever Spot Solana ETF marks a significant milestone not just for the Solana ecosystem but the crypto ecosystem in general.\u00a0\u00a0<\/span><\/p>\n

Other asset managers can be expected to file for a Spot Solana ETF in due time, and the potential approval of these funds could usher in more crypto ETFs just as the approval of a Spot Bitcoin and Ethereum ETF motivated VanEck to file for this <\/span>Spot Solana ETF<\/span><\/a>. Meanwhile, the <\/span>Spot Ethereum ETFs<\/span><\/a> are expected to begin trading soon, providing more bullish momentum for the crypto market.\u00a0<\/span><\/p>\n

Technical Indicators Also Point To More Rallies For Bitcoin<\/h2>\n

Martinez <\/span>recently highlighted<\/span><\/a> an Adam and Eve bottoming pattern, which he claimed seems to be forming on Bitcoin\u2019s chart. He stated that this signals a <\/span>potential 6% rise towards $66,000<\/span><\/a> if Bitcoin can maintain a candlestick close above $62,000. Additionally, Martinez recently noted that the <\/span>crypto market sentiment<\/span><\/a> has turned into fear, which suggests that crypto prices are currently undervalued and that a market rebound is imminent.\u00a0<\/span><\/p>\n

\"Solana
Source: X<\/figcaption><\/figure>\n

According to <\/span>Martinez<\/span><\/a>, Bitcoin\u2019s <\/span>relative strength index (RSI)<\/span><\/a> also shows that this is a good time to buy the Bitcoin dip. Historical trends suggest that a parabolic rally is already on the cards for the flagship crypto. Once Bitcoin makes its move to the upside, the broader crypto market is expected to enjoy a massive bounce.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Profitability Rises To 75% As Shiba Inu Plunges To 52%<\/a><\/div>\n
\"Solana
Source: X<\/figcaption><\/figure>\n

Crypto analyst Javon Marks<\/span><\/a> also alluded to Bitcoin\u2019s RSI and highlighted a bullish divergence pattern that had formed on Bitcoin\u2019s chart which he claimed validates a bullish outlook for the crypto token. He <\/span>predicted<\/span><\/a> that Bitcoin could soon make a rebound to $72,000 and possibly new all-time highs (ATHs) should this bullish pattern hold.\u00a0\u00a0<\/span><\/p>\n

\"SOL
SOL price drops to $144 | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Ali Martinez has warned the crypto community not to get too excited about the recent market recovery trigger by Spot Solana ETFs filing. Bitcoin (BTC) and the broader crypto market witnessed a relief bounce following recent bullish developments, but the analyst highlighted what could send the market into a downtrend again.\u00a0\u00a0 Why The Crypto Community Should Not Get \u201cToo Excited\u201d After Solana ETFs Rally Martinez mentioned in an X (formerly Twitter) post that the crypto community should not get too excited because $22 million will be liquidated from the crypto market if Bitcoin drops to $60,700. A significant amount in liquidations could lead to further decline in the crypto market, especially with other traders and investors looking to close their positions for fear of being liquidated.\u00a0 Related Reading: Why Is The Bitcoin Price Down Today? Martinez issued this warning following the market rebound made by Bitcoin and altcoins. This rebound followed news that asset manager VanEck had filed for a Spot Solana ETF with the US Securities and Exchange Commission (SEC). Solana, in particular, saw a price gain of over 8% and rallied to as high as $150 following the news.\u00a0 The crypto market was also buoyed in anticipation of the US presidential debate. The crypto community had anticipated crypto being a major talking point during the discussion, although that didn\u2019t happen. Regardless, there is still enough reason for the crypto market to be excited, as VanEck\u2019s filing for the first-ever Spot Solana ETF marks a significant milestone not just for the Solana ecosystem but the crypto ecosystem in general.\u00a0\u00a0 Other asset managers can be expected to file for a Spot Solana ETF in due time, and the potential approval of these funds could usher in more crypto ETFs just as the approval of a Spot Bitcoin and Ethereum ETF motivated VanEck to file for this Spot Solana ETF. Meanwhile, the Spot Ethereum ETFs are expected to begin trading soon, providing more bullish momentum for the crypto market.\u00a0 Technical Indicators Also Point To More Rallies For Bitcoin Martinez recently highlighted an Adam and Eve bottoming pattern, which he claimed seems to be forming on Bitcoin\u2019s chart. He stated that this signals a potential 6% rise towards $66,000 if Bitcoin can maintain a candlestick close above $62,000. Additionally, Martinez recently noted that the crypto market sentiment has turned into fear, which suggests that crypto prices are currently undervalued and that a market rebound is imminent.\u00a0 According to Martinez, Bitcoin\u2019s relative strength index (RSI) also shows that this is a good time to buy the Bitcoin dip. Historical trends suggest that a parabolic rally is already on the cards for the flagship crypto. Once Bitcoin makes its move to the upside, the broader crypto market is expected to enjoy a massive bounce.\u00a0 Related Reading: Dogecoin Profitability Rises To 75% As Shiba Inu Plunges To 52% Crypto analyst Javon Marks also alluded to Bitcoin\u2019s RSI and highlighted a bullish divergence pattern that had formed on Bitcoin\u2019s chart which he claimed validates a bullish outlook for the crypto token. He predicted that Bitcoin could soon make a rebound to $72,000 and possibly new all-time highs (ATHs) should this bullish pattern hold.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":626926,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[167,6664,26263,14690,12837,92666,86420,83626,92667,92668,92669,89405,85361,86410,83627,92670,92672,92671],"class_list":["post-626912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-sol","tag-sol-news-solana-etf","tag-sol-price","tag-solana","tag-solana-etf-news","tag-solana-etfs","tag-solana-etfs-news","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt","tag-spot-solana-etf","tag-spot-solana-etf-news","tag-spot-solana-etfs"],"acf":[],"yoast_head":"\nSpot Solana ETFs: Analyst Says Don\u2019t Get Too Excited About The Market Recovery<\/title>\n<meta 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Spot Solana ETFs: Analyst Says Don\u2019t Get Too Excited About The Market Recovery","url":"http:\/\/uniquehot.com\/news\/solana\/spot-solana-etfs-recovery\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/solana\/spot-solana-etfs-recovery\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana_ab2140.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana_ab2140.jpeg?fit=1792%2C1024"},"articleSection":"Solana","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","sol","sol news solana etf","sol price","solana","solana etf news","solana etfs","solana etfs news","solana news","solana price","solusd","solusdt","spot solana etf","spot solana etf news","spot solana etfs"],"dateCreated":"2024-06-28T14:00:03Z","datePublished":"2024-06-28T14:00:03Z","dateModified":"2024-06-28T14:00:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Spot Solana ETFs: Analyst Says Don\\u2019t Get Too Excited About The Market Recovery\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/spot-solana-etfs-recovery\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/spot-solana-etfs-recovery\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Solana_ab2140.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Solana_ab2140.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"sol\",\"sol news solana etf\",\"sol price\",\"solana\",\"solana etf news\",\"solana etfs\",\"solana etfs news\",\"solana news\",\"solana price\",\"solusd\",\"solusdt\",\"spot solana etf\",\"spot solana etf news\",\"spot solana etfs\"],\"dateCreated\":\"2024-06-28T14:00:03Z\",\"datePublished\":\"2024-06-28T14:00:03Z\",\"dateModified\":\"2024-06-28T14:00:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana_ab2140.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626912"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=626912"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/626926"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=626912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=626912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=626912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}