TLDR
- Solana touched $90 as traders reacted to improving risk demand across major crypto assets Wednesday.
- Bitcoin moved above $82,000 after reports described a possible United States and Iran peace framework.
- Trump warned the deal remained uncertain, and traders watched Washington and Tehran for fresh signals.
- CoinShares reported $117.8 million inflows, although Solana products recorded outflows during the same reporting week.
- CoinGlass data showed liquidations above $586 million, with short traders taking most losses after rebound.
Solana touched $90 as Bitcoin moved back above $82,000 during a wider crypto market rebound. Traders reacted to reports of a possible U.S.-Iran peace framework. The news also moved stocks, commodities, and crypto derivatives markets.
Solana Hits Three-Week High During Crypto Rebound
TradingView data showed SOL rose to an intraday high of $90 on Wednesday. The token reached that level for the first time since April 17. Solana gained almost 8% over the past week, as buyers returned to large altcoins.
Bitcoin climbed above $82,000 during the same session and reached a local high near $82,820. The move placed Bitcoin above $80,000 for the first time in more than three months. Momentum slowed near $83,000, but the rally changed short-term market positioning.
Solana also beat many large altcoins during the latest crypto market rebound. Traders linked the move to stronger risk demand after several days of pressure. However, price action stayed tied to political headlines and fast changes in sentiment.
The move came as Bitcoin led a broad recovery across digital assets. Large tokens traded higher, and traders reduced bets against a near-term rebound. Market data showed buyers entered quickly once Bitcoin cleared key price levels.
Iran Deal Reports Drive Market Sentiment
The crypto rally followed reports of a possible 14-point memorandum between Washington and Tehran. The reported framework aimed to end the conflict and reopen safe passage through the Strait of Hormuz. The route remains important for global oil traffic.
Optimism weakened later after President Donald Trump questioned the deal. “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption,” Trump wrote on Truth Social. He also said that without agreement, “the bombing starts.”
Traditional markets also moved higher during the day. The Kobeissi Letter said the S&P 500 rose above 7,350 for the first time. It said the index stood 16% above its March 30 low.
Bitcoin has also gained during the period of geopolitical tension. Since the conflict began, Bitcoin has risen 25%, based on the shared market comparison. The S&P 500 gained 8%, while gold fell 11%.
Fund Flows and Liquidations Show Fast Position Changes
CoinShares said digital asset investment products saw US$117.8 million in inflows last week. That marked the fifth straight week of inflows. Yet the week showed sharp moves in investor demand.
From Monday to Thursday, products saw US$619 million in outflows. On Friday, US$737 million flowed back into digital asset products. CoinShares said total assets under management stayed near US$155 billion.
Solana products recorded US$11.1 million in outflows during the same reporting week. Solana ETFs also saw US$1.24 million in outflows. This week, though, Solana products have seen more than US$5 million in inflows so far.
CoinGlass data showed crypto liquidations above US$586 million over 24 hours. Short positions accounted for nearly US$400 million of that total. More than 140,000 traders were liquidated as prices turned higher.
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