SOL Token Drops 6.67% Amid Market Volatility Despite 90% Spot ETF Approval Odds

Solana (SOL) experienced a notable 6.67% price decline over the past 24 hours, with the current price at $132.87 (down from a 24h open of $142.37). This decrease is attributed to ongoing market volatility despite positive sentiment surrounding a potential spot ETF approval, which Bloomberg analysts estimate at over 90%. Broader macroeconomic factors, such as rising U.S. national debt and increased interest payments, have contributed to uncertainty across the cryptocurrency market, impacting SOL’s price stability. While Solana recently held the $140 support level, the latest drop below this threshold reflects short-term bearish pressure, likely influenced by profit-taking and cautious trading ahead of anticipated regulatory developments.

Currently, Solana is trading below key support levels with moderate trading activity, and sentiment remains cautiously bullish if support is regained, though further declines are possible if downward momentum persists.