6.29 SOL: Entering Oversold Zone But Don't Rush to Buy! $65 Is the Real Lifeline

$SOL
Entry: Around 72.5-73.5 short, stop loss at 75, target 68-65

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The macro environment and the logic of mainstream coins are consistent. The Fed maintains a hawkish stance, rate cut expectations continue to be delayed, and risk assets are all under pressure. SOL itself is a high-beta speculative asset; when liquidity tightens, its declines and volatility are more severe than Bitcoin's.

ETF fund momentum has weakened significantly. In May, the SOL spot ETF had zero outflows for the entire month, with cumulative net inflows of $115 million, once becoming a market highlight. However, entering June, capital inflows slowed sharply, with intermittent net outflows beginning to appear. Institutional buying support continues to weaken, and without incremental capital backing, the market naturally struggles to improve. Coupled with FTX's bankruptcy estate releasing tokens monthly, the supply-side selling pressure has been hanging over the market.