1. The main catalyst:
The merger on May 27 with Chainlink Proof of Reserve (PoR) elicited mixed reactions.
Optimism: Actual asset reserves of over 2 billion (Solv) have been achieved.
Pessimism: Michael Saylor's criticism in May 2025 that PoR 'undermines security' resonated with some traders (Coingape).
Trading volume surged by 176% to reach 83 million during the decline - a traditional pattern of 'selling the news' despite driving transparency.
2. The technical context:
Key levels have broken down rapidly.
The swing low at 0.0351 (May 29) has been surpassed.
The MACD indicator at -0.000592 indicates a bearish crossover.
The RSI indicator for the 14 period at 51.37 shows the possibility of further decline.
The 10-day simple moving average (0.04398) is now acting as resistance - 30% above the current price of $0.0305.
Conclusion
The decline of SOLV integrates through low-risk flows at the sector level with Bitcoin dominance at 0.66 in 24 hours, disputed transparency measures, and technical issues. Watch the Fibonacci level of 78.6% at 0.028 - a break could accelerate losses.
Will institutional demand for BTC products backed by Solv and real asset-specific products outweigh technical factors?
