Solana Shows Resilience Amid ETF Headwinds

Solana’s price has stabilized above the $135 mark this week, demonstrating notable market strength. Bullish traders using leverage appear to have absorbed the negative impact from the withdrawal of a 21Shares exchange-traded fund (ETF) proposal, helping to restore confidence across derivatives markets.

Bitcoin Rebound Met with Cautious Outlook

Despite staging a significant 17% rebound from its recent lows, sentiment surrounding Bitcoin remains cautious. On the prediction market Kalshi, traders are pricing in bearish odds for the asset reaching $100,000 in 2025. Recent inflows into Bitcoin ETFs have failed to generate enough momentum for a decisive price breakout.

Prediction Marketplace Kalshi Faces Legal Scrutiny

The prediction marketplace Kalshi has been targeted by a class-action lawsuit. The legal filing includes serious accusations against the platform, citing alleged engagement in illegal sports gambling and market manipulation.

China Prepares Stricter Crypto Payment Rules

Authorities in China are reportedly preparing to tighten their control over cryptocurrency payments and stablecoins. Officials have warned of growing financial risks associated with digital assets and pointed to a renewal in trading activity as the catalyst for the planned crackdown.