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Solana Leads Altcoin Rotation as Bitcoin Stalls Near $110,000

Rising whale deposits and cost‑basis clusters leave the market sensitive to quick swings.

Overview

  • Solana outperformed majors with a 4%–8% daily gain above $209, backed by ADX near 28, RSI around 60 and price holding above the 50‑ and 200‑day EMAs.
  • Prediction markets on Myriad quickly repriced Solana’s prospects, lifting 2025 all‑time‑high odds from roughly 34% to about 50% and favoring $250 before $130 by 71%.
  • Bitcoin hovered around $109,000–$112,000 after a mid‑August peak near $124,000, with resistance at $113,700–$115,600 and key support near $107,000, according to Glassnode.
  • Exchange and on‑chain data point to big‑player activity, with Binance’s 7‑day mean deposit size jumping to 13.5 BTC and analysts noting renewed movement of older coins.
  • Macro signals skew risk‑on as U.S. Q2 GDP surprised to 3.3% and equities set records, while traders watch Friday’s PCE print and a rotation narrative that has narrowed Bitcoin’s dominance.