- The Price of Solana (Sun) dropped 13% to about $ 110 and could collapse to the key support.
- Bitcoin and Ethereum have also fallen, with BTC near $ 81,000 and ETH around $ 1,700.
- Tariff concerns continue to determine the performance of the risk market.
The cryptocurrency market suffered a sharp fall on Thursday, April 3, 2025, with Solana (Sun) collapsing 13%, below $ 115, which caused the bulls to risk a fall to the psychological level of $ 100.
The strong fall of Sol coincided with the general collapse of the market, which also placed Bitcoin (BTC) near the $ 81,000 and Ethereum (ETH) around $ 1,700.
A domino effect on the main risk assets, including cryptocurrencies, has generated concern, since investors are reluctant to the latest tariff ads. With BTC and ETH leading the fall of the main Altcoins, market confidence has quickly changed in the last 24 hours.
In particular, analysts claim that it is likely to be playing background, and that macroeconomic pressures and chain activity could catalyze a new bullish impulse.
Solana collapses 13%, but is it mature for a rebound?
Coinglass data show That Solana’s open interest has fallen 7%, to 4,630 million dollars. In addition, market data show a strong price drop of more than 13%, which places Sol below $ 115. The Altcoin reached minimum of $ 112 in the middle of the massacre that also deleted billions of dollars from the global cryptocurrency market.
With open interest, the fall suggests greater suffering, since a fall usually precedes corrections. If the operators look for lower entry points, the Solana price could fall again.
However, the daily graph shows Sol in oversight territory, with the RSI and MacD indicators becoming bassists in recent days. Solana pricing graph of TrainingView
Broader market prospects
The generalized collapse of the cryptocurrency market occurred when investors reacted to the announcement of tariffs of President Donald Trump, which affected almost 200 US commercial partners.
As Cryptoquant analysts pointed out in X the reaction caused a drop in the price of BTC from more than $ 88,000 to about 81,000. In fact, 2,500 BTC moved in a single block operation, with important entries to Coinbase. Cryptoquant highlights the rapid change of feeling in the midst of collapse.
Kobeissi Letter pointed out that macroeconomic concerns around tariffs promoted mass sale. In an X post, the market analysis platform indicated that the S&P 500 lost more than 2 billion dollars in the day of April 3.
“The S&P 500 has lost more than 2 billion dollars today and Russell 2000 is in bassist territory,” the platform analysts published.
“The Nasdaq 100 is just 2 % of entering its first bearish market since 2022. A truly historical day in the market.”
The 13% drop in Solana reflects the disappointment of the entire market, and it is likely that BTC and ETH provide more resilience or imminent collapse tests.
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