Sygnia, a South African investment manager, has launched the Sygnia Life 
Bitcoin Plus Fund, which tracks Blackrock’s Ishares Bitcoin Trust exchange- 
traded fund (ETF). Sidestepping South Africa&#8217;s Regulatory Hurdles South 
African investment manager Sygnia has launched a product that tracks 
Blackrock’s Ishares Bitcoin Trust ETF (IBIT). Known as the Sygnia Life Bitcoin 
Plus Fund, the product, […]

South Africa’s Sygnia Launches Bitcoin Fund Tied to Blackrock’s IBIT

The Solana price has fallen by a considerable amount after hitting an all-time 
high of almost $300 back in January 2025. Even with the recent market 
recovery, the price is still sitting over 45% below its all-time high price, 
highlighting the struggles that the altcoin has faced in recent times. Amid 
this, a crypto analyst has suggested that the Solana price could crash even 
further from here, predicting a 40% crash could be in the cards once more. Why 
Solana Could See A Price Crash Crypto analyst The Alchemist Trader has 
highlighted the development of a rare bullish harmonic pattern on the Solana 
price chart. Now, while this pattern formation is inherently bullish for any 
digital asset, the shorter term does come with some hurdles for the altcoin to 
surmount first. Related Reading: Bitcoin Open Interest Climbs Above December 
2024 Levels, Here’s What Happened Last Time The main thing to focus on here is 
that this bullish pattern does initially trigger a liquidity sweep of previous 
lows. In this case, the recent Solana price low lies at the $95 level, which 
is a 40% decrease from its current price, trending above $150. The possibility 
of this low sweep is made even more prominent by a couple of technical 
developments on the chart. The first technical point the analyst shows is the 
Point of Control (POC) Battle. According to the analysis, the Solana price is 
now testing this POC level with low momentum, shown by the slow climb over the 
last few days. Additionally, there is also mounting resistance at the Value 
Area High and the 0.618 Fibonacci level, which lies just above $163. Then, 
there is the completion of the C-leg of the wave, putting it as low as $95. A 
crash to this level becomes more likely if the Solana price fails to break 
through the resistance with conviction. If the price is rejected and the C-leg 
does play out, then this correction is expected to trigger the 40% crash to 
the $95 level. It’s Not All Bearish News As already mentioned above, the 
bearish leg of the rare bullish harmonic pattern is only temporary and often 
gives way to an even stronger impulse move. As the crypto analyst explains, 
the crash to $95 will only happen in the immediate short term, but it does not 
actually invalidate the overall bullish trend. Related Reading: Market Expert 
Says It’s Now ‘Illegal’ To Short Bitcoin, Here’s Why Once the D-leg is over 
and the crash is completed, the crypto analyst predicts that the Solana price 
will start to rally again. From the predicted $05 lows, an over 100% move is 
expected to take it back to $200 and beyond before the rally is over. The 
analyst explains that &#8220;Until this scenario is confirmed or invalidated, Solana 
remains range-bound between major high time frame levels.” Therefore, “Traders 
should stay alert for signs of rejection at current resistance — or, 
conversely, a volume-backed breakout above the value area high that would 
negate the harmonic setup.” Featured image from Dall.E, chart from 
TradingView.com

Why The Solana Price Could Crash To $95 Before Reaching $200

Crypto analyst Matthew Hyland suggests altcoins will be “ripping” much more 
when Bitcoin Dominance drops to 45%.

Altcoins are rocketing, Bitcoin dominance hasn’t ‘even sneezed’: Analyst

The figure is quoted in a report published by New York-based investment 
research firm Benchmark on Friday. Analysts Predict Metaplanet Stock Could 
Reach ¥2,400 Shares of Japanese bitcoin treasury firm Metaplanet continue to 
defy gravity, soaring 7,900% since the once embattled hotel company 
implemented a well-executed bitcoin ( BTC) corporate strategy last year. 
That’s according […]

Metaplanet’s Shares May Soon Hit ¥2,400: Benchmark

In a positive development for the crypto community, the individual responsible 
for the GMX exploit accepted the platform’s bounty and returned over $40 
million worth of assets stolen from the project. Related Reading: Drop NFTs 
Like It’s Hot: Snoop Dogg’s Telegram Collection Raises $12M In 30 Minutes 
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit 
ended on a happy note after the individual responsible for the incident turned 
into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 
million on Wednesday when an attacker exploited a vulnerability in the 
protocol’s first version on Arbitrum. According to online reports, GMX V1’s 
vault contract had a vulnerability that allowed the attacker to manipulate the 
GLP token price through the system’s calculations. Blockchain security firm 
SlowMist explained that “The root cause of this attack stems from GMX v1&#8217;s 
design flaw, where short position operations immediately update the global 
short average prices (globalShortAveragePrices), which directly impacts the 
calculation of Assets Under Management (AUM), thereby allowing manipulation of 
GLP token pricing.” Through a reentrancy attack, they successfully established 
massive short positions to manipulate the global average prices, artificially 
inflating GLP prices within a single transaction and profiting through 
redemption operations. As a result, approximately $42 million worth of assets, 
including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH 
(WETH), and other tokens, were transferred from the GLP pool to an unknown 
wallet. The perpetual crypto exchange halted GMX V1’s trading and GLP’s 
minting and redeeming on both Arbitrum and Avalanche to prevent another attack 
and protect users’ funds. However, they clarified that the exploit was limited 
to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the 
GMX token were not affected and remained safe. White-Hat Claims $5 Million 
Bounty Following the incident, GMX sent a message on-chain and on X offering a 
$5 million white-hat bounty to the attacker, claiming that their abilities 
were “evident to anyone looking into the exploit transactions.” GMX’s team 
noted that returning the funds within the next 48 hours and accepting the 
bounty would allow the hacker to “spend the funds freely,” instead of taking 
additional risks to access them. They also vowed not to pursue any legal 
action and to assist the exploiter in providing proof of source for the funds 
if it is ever required. Today, the exploiter responded in an on-chain message, 
accepting the bounty and starting the return process. As Lookonchain reported, 
they initially returned $10.49 million worth of FRAX on Friday morning. 
Meanwhile, another $32 million worth of assets had been swapped into 11,700 
ETH, which are now valued at $35 million after the King of Altcoins’ price 
jumped to the $2,990 mark. In the following hours, the hacker returned 10,000 
ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the 
bounty. Related Reading: Solana Ready For $160 Reclaim? Analysts Say Breakout 
Is A Matter Of Time GMX later confirmed that the funds have now been safely 
returned and thanked the white-hat hacker for their actions, ultimately giving 
a positive turn to the incident. Lastly, they informed users that 
“contributors are working on a proposed distribution plan for presentation to 
the GMX DAO and will share more information shortly.” Featured Image from 
Unsplash.com, Chart from TradingView.com

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