SOL’s price has validated a classic head-and-shoulders pattern on multiple time frames, with a price target of about $50. Solana’s SOL (SOL) has dropped 38% over the last 30 days, falling to a two-year low of $67 on Friday. Multiple analysts say that the downside is not over for the seventh-placed cryptocurrency, with downward targets extending as low as $30. Key takeaways: Solana’s head-and-shoulders pattern targets a SOL price of $50 or lower. Read more
The sale shows how Bitcoin miners are reshaping strategies as mining economics continue to deteriorate. Bitcoin miner Cango has sold 4,451 Bitcoin on the open market, generating net proceeds of about $305 million it says were used to partially repay a Bitcoin‑collateralized loan and to strengthen its balance sheet. The company said Monday that the transaction, approved by its board after a review of “current market conditions,” is intended to reduce financial leverage and provide additional capacity to fund its planned expansion into artificial intelligence (AI) and high‑performance computing (HPC) infrastructure. Cango said that the “strategic pivot” meant utilizing its “globally accessed, grid-connected infrastructure” to provide distributed compute capacity for the AI industry, and that the initiative would be implemented through a phased roadmap. Read more
Michael Saylor’s Strategy missed Bitcoin’s brief drop to $60,000 last week, purchasing $90 million worth of BTC at an average price near $78,800. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, added another tranche of BTC last week, expanding its holdings without pushing its overall cost basis lower. Strategy acquired 1,142 Bitcoin (BTC) for $90 million last week, according to a US Securities and Exchange Commission filing on Monday. The acquisitions were made at an average price of $78,815 per BTC despite Bitcoin trading below that level for most of the week and briefly touching $60,000 on Coinbase last Thursday. Read more
Digital Asset cofounder and CEO Yuval Rooz said the latest crypto sell‑off is repricing “empty shell” token models and pushing institutions to chains with value, privacy and predictability. The cryptocurrency market sell‑off is forcing a reckoning in the industry to reward blockchains with real business models, where value flows to token holders and users rather than intermediaries or speculative order flow, according to Yuval Rooz. Rooz is the co-founder and CEO of Digital Asset, creator of the institutional‑grade, privacy‑enabled Canton Network. In an exclusive interview, he told Cointelegraph that he’s not worried about the state of the crypto market, and the turbulence hasn’t scared off his core customer base. He pointed to Canton Network and derivatives exchange Hyperliquid as examples of what investors are gravitating toward. Read more
Binance bought $300 million in Bitcoin for its SAFU reserve, pushing the fund past $720 million as the exchange shifts its emergency buffer to BTC. Binance added another $300 million worth of Bitcoin to its emergency reserves on Monday, continuing its experiment with a Bitcoin-backed protection fund as markets remain under pressure. Binance bought another 4,225 Bitcoin (BTC) worth $300 million for its Secure Asset Fund for Users (SAFU) wallet, which holds its emergency reserves, according to blockchain data platform Arkham. The acquisition lifts the fund’s Bitcoin holdings to more than $720 million at current prices. Read more