First Mover Americas: Solana Soars to Fresh Cycle Highs with Major Breakout

Crypto Market Update: Solana Climbs to $240, Bitcoin Holds Steady Above $90K

Solana (SOL) surged past $240, marking a fresh three-year high, while bitcoin (BTC) paused just above $90,000, down 0.34% in the past 24 hours. The CoinDesk 20 Index rose 1.66%, driven by SOL’s 4.3% gain. Analysts remain optimistic, predicting bitcoin could push toward $200,000, supported by historical fractal patterns.

Meanwhile, retail enthusiasm is at a peak. JPMorgan’s sentiment index for bitcoin products hit a record high, indicating widespread bullishness. However, extreme positioning in MicroStrategy (MSTR) options raises concerns of potential short-term market corrections.

XRP also made headlines, hitting $1.20—its highest level in three years. Open interest in XRP futures surpassed $2 billion as traders bet on further volatility. The optimism is tied to Ripple’s growing ecosystem and expectations for a crypto-friendly regulatory environment under the Trump administration.

In technical analysis, Solana’s breakout against bitcoin on the SOL/BTC ratio chart hints at continued strength, with analysts eyeing further outperformance in the weeks ahead.