The cryptocurrency market has begun the new week positively after a bearish weekend. Bitcoin is trading above $68,000, up nearly 1% in the last 24 hours. Solana's SOL is up nearly 2% at press time on Monday, and could rally higher in the near term. The coin could stage a minor recovery after four consecutive days of losses. The positive performance comes as institutional confidence in Solana remains mixed. Solana ETFs experienced two consecutive daily outflows last week to cap the weekly net inflow at $24 million. Derivatives data also shows that retail demand is increasing in the near term. Technical indicators suggest that SOL could rally higher over the next few hours or days.
SOL eyes $94 despite mixed ETF, derivatives activity
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AI INSIGHT
Solana (SOL) trades up nearly 2% at press time on Monday. Bitcoin (BTC) trades above $68,000, up nearly 1% in the last 24 hours. Solana ETFs recorded two consecutive daily outflows last week, capping weekly net inflows at $24 million. Derivatives data show increasing retail demand for SOL in the near term.
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