Arthur Hayes, BitMEX Co-Founder, Bullish on Solana’s Future Despite Divergent Market Signals
Despite mixed signals in the market, Arthur Hayes, co-founder of BitMEX and IT director at MaelstromFund, maintains an optimistic outlook on Solana’s future. Solana demonstrated resilience by swiftly recovering beyond $100 following a brief correction, leading Hayes to predict a sustained upward trajectory.
This sentiment is echoed by crypto analysts Ali Martinez and Rekt Capital, who identify critical resistance levels. Martinez points to a significant resistance level at $110, highlighting the formation of a bullish flag. Breaking through this level could potentially drive SOL towards an ambitious target of $163.
CoinStats data indicates a resurgence of bullish activity in the Solana market, resulting in a 5.7% daily price increase, reaching $100.61.
[Visual: One-day price chart SOL/USD. Source: CoinStats]
However, a report from CoinShares provides a counter perspective, revealing a $5.3 million outflow from Solana-based products. This contrasts sharply with a $113 million inflow into Bitcoin. Notably, 55% of these funds originated from U.S. exchanges, reflecting anticipation of the U.S. regulator’s decision on spot Bitcoin ETFs.
