When the market is weak, why is $SOL dropping the most? The two major signals behind it have explained everything.
The current market situation of SOL can be simply described as: liquidity remains tight, price support is weak, and it may continue to drop in the short term.
Specifically:
First, liquidity has not improved. The trading price on Coinbase is more than 50 basis points lower than the market average, and this negative premium is expanding, indicating that spot buying is very weak and lacks support. Moreover, market sentiment is weak. Typically, there would be some buying in the Asian session, but now there hasn't even been a rebound during this period.
In the past few days, among mainstream coins, SOL has experienced the largest decline. The short-term risk is still relatively high. Based on the current trend, it is highly likely that the price will quickly drop again in the short term, so we need to be cautious.
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