Bitcoin Slips Below $90K, Solana ETF Speculation Heats Up, and El Salvador Stays Bullish

– and How It’s Shaking the Market.

Feb 25, 2025

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TL;DR

Bitcoin price drops below $90K as whale activity slows; El Salvador doubles down on its BTC strategy.
Solana ETF uncertainty continues as BlackRock remains silent, impacting investor confidence.
Bybit restores over 200K ETH reserves following liquidity issues.
PEPE Whales ramp up accumulation, stirring speculation about future price action.
Germany’s Election could fundamentally shape crypto regulation in Europe.
BlackRock Holds Back on Solana ETF, citing regulatory and liquidity concerns.

Price Update

Bitcoin Dips Below $90K

The Bitcoin price nosedived below $90K this week, spurred by reduced whale demand and sell-offs from long-term holders. Regulatory pressures in key markets compounded negative sentiment, keeping the crypto market under stress.

However, President Nayib Bukele of El Salvador remains resolute, adding more Bitcoin to the country’s reserves as part of its dollar-cost averaging approach. Analysts point out that these price corrections might offer a prime entry point for long-term holders keen on accumulating BTC.

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Solana Hits Yearly Lows

Solana, a prominent Ethereum alternative, slumped below $150—the lowest it’s been all year. Investor trust in Solana took a blow due to uncertainty surrounding its potential ETF.

While players like Franklin Templeton and Grayscale have entered the ETF race, BlackRock's silence on a Solana ETF continues to weigh on market confidence. Until BlackRock signals institutional support or the SEC makes regulatory classifications clear, Solana’s recovery might remain sluggish.

Legal and Regulatory Updates

Germany’s Election Could Shape Crypto’s Future

Germany is facing a critical election, where crypto regulation has become a pivotal debate. Pro-crypto parties are pushing for policy reforms that would encourage innovation, while skeptics argue tighter controls are needed to mitigate risks.

With Germany being a financial heavyweight in Europe, the election results could have ripple effects beyond its borders, influencing the crypto regulatory framework across the EU.

New Developments

Bybit Recovers ETH Reserves

Amid concerns over withdrawals and liquidity, Bybit restored confidence by pushing its ETH reserves back above 200K. This action eliminated fears of insolvency following temporary issues.

This recovery has also reignited conversations around self-custody, with investors increasingly exploring options beyond centralized exchanges to secure their funds.

PEPE Whale Accumulation

Meme coin enthusiasts, take note—PEPE is seeing substantial whale accumulation at strategic price levels. Historically, similar patterns have preceded rallies, although the speculative nature of meme coins requires caution. For now, all eyes are on on-chain analytics for more clues about the market’s next move.

BlackRock Holds Back on Solana ETF

Despite dominating the ETF market with Bitcoin and Ethereum products, BlackRock has yet to file for a Solana ETF. The firm remains cautious, citing concerns about liquidity and SEC classification of Solana as a potential security.

Other players like Franklin Templeton and Grayscale have already submitted Solana ETF proposals, but BlackRock’s reserved approach leaves investors wondering about the altcoin’s mainstream adoption potential. With regulatory uncertainty still looming, the path forward for a Solana ETF remains unclear.

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This week has been eventful for the crypto market, with Bitcoin’s price decline, Solana ETF speculation, El Salvador’s purchases, and the broader implications of Germany’s election results. Don’t miss out on these crucial updates!

What's your view on El Salvador's Bitcoin accumulation? Or BlackRock’s hesitation on a Solana ETF? Join the conversation and share your thoughts!