6.12 SOL: Follow-the-market rally a bit, but still the same most liquidation-prone meat grinder

$SOL
Brothers, today SOL finally followed Bitcoin and took a sip of soup, rebounding from yesterday's low of 62.34 all the way up to now 67, nearly a 5% increase in 24 hours, with a higher gain than Bitcoin and Ethereum. But I must say upfront: this is purely an oversold rebound, not a reversal. SOL's poor fundamentals haven't changed at all; the higher it rises, the harder it falls afterward, and the more liquidations there will be.

Entry: 68.5-69.5 range, watch for 71, look at 64-62

The myth of "ETF zero outflows" that was previously hyped has been completely shattered. Last week, there was a net outflow of $6.52 million, ending four consecutive weeks of inflows. Institutions are fleeing faster than rabbits.

On June 7, 620,400 SOL was unlocked; yesterday, another 200k SOL was unlocked, totaling over 800,000 SOL dumped into the market. This rebound buying volume is simply not enough to fill the gap.

The Chicago Solana Summit on June 16 had its expectations preemptively exhausted long ago. By then, it will definitely be "good news turning into bad news." Historically, every SOL summit has been the start of a plunge.

Funds are frantically shifting toward Bitcoin, which now accounts for 59%. SOL is now just a discarded pawn nobody wants. It rises the slowest when climbing, and falls the fastest when dropping. #美伊冲突升级