Market Watch: Solana Hits $240 Milestone While Bitcoin Consolidates Above $90K

Solana (SOL) soared to $240, achieving its highest price in three years and outpacing the broader market with a 4.3% daily gain. Bitcoin (BTC) held steady above $90,000, down slightly by 0.34%, as investors paused following its historic rally post-election. The CoinDesk 20 Index climbed 1.66%, driven by bullish momentum in altcoins.

Retail enthusiasm remains high, with JPMorgan’s retail sentiment index for bitcoin-linked assets reaching an all-time peak. While the optimism is palpable, some analysts caution about potential pullbacks, pointing to frothy positioning in assets like MicroStrategy (MSTR).

XRP also continued its upward trajectory, breaching $1.20 for the first time in three years. Futures activity hit unprecedented levels, with over $2 billion in open interest signaling heightened volatility ahead. The anticipation of Ripple’s ecosystem expansion and regulatory clarity under a pro-crypto administration is fueling the surge.

On the charts, Solana broke through key resistance levels against bitcoin (SOL/BTC), signaling the potential for further gains and positioning itself as one of the standout performers in the current market cycle.