Solana Faces 50 Percent Drop: Market Analysts Predict Recovery Amid Ethereum ETF Prospect.

The altcoin market is experiencing a serious correction, with market cap falling from $1.2 trillion in March to $1.05 trillion today. This represents a 12.5 percent loss of value.

Major altcoins in particular have been hit hard, with some dropping over 40 percent in the past two weeks. Prominent cryptocurrency analyst Michael Van De Poppe pointed out the inherent volatility of the market in his latest video analysis.

Van De Poppe attributes the instability of the altcoin market to several factors, specifically noting the delay in the start of trading of the #Ethereum spot #ETF despite its approval. This has led to confusion and instability among traders and investors who are uncertain about their participation time in these regular investment options.

Additionally, macroeconomic indicators such as the Consumer Price Index (CPI), Producer Price Index (PPI), and Federal Open Market Committee (FOMC) announcements have a significant impact on market sentiment. Data showing that inflationary pressures may ease may indicate future interest rate cuts by the Federal Reserve, which would historically be positive for altcoins. These assets typically thrive in periods of abundant global liquidity and low interest rates.

Taking #Solana ( $SOL ) as a case study, it is currently trading at $146.52, down over 50 percent from its March peak. However, recent activity signals an uptick. In the last 24 hours, Solana's price increased by 1.6 percent. At the same time, the open interest rate increased by 0.36 percent, while the open interest volume increased by 68 percent to $3.83 billion.
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