Hyperliquid trader James Wynn has seen his 949 Bitcoin long positions liquidated after the cryptocurrency dipped below $105,000.

Hyperliquid whale losses near $100M after Bitcoin dips below $105K

Ernst &amp; Young LLP (EY US) submitted a letter to the U.S. Securities and 
Exchange Commission (SEC) last week in response to the SEC&#8217;s request for input 
on crypto-related matters. The firm emphasized the importance of regulatory 
clarity regarding how federal securities laws apply to crypto markets. EY US 
outlined its experience in assurance, tax, […]

SEC’s Crypto Task Force Gets Crucial Input From EY

As the month nears its end, the crypto market turns momentarily red, with 
Solana (SOL) retesting a crucial support level that could determine its short- 
term performance. An analyst suggests that holding the current range over the 
weekend will be key for the long-awaited rally back to $200. Related Reading: 
Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown 
Ahead? Solana Hits Multi-Week Low Amid the crypto market pullback, most 
cryptocurrencies are recording a red Friday, with Bitcoin (BTC) and Ethereum 
(ETH) momentarily losing some key levels. Solana, one of the cycle’s leading 
Altcoins, followed the rest of the market and registered a 6% retracement in 
the daily timeframe. SOL has seen a significant recovery from its multi-month 
downtrend, which led the token to hit a 14-month low of $95 during the early 
April retraces. Over the past month and a half, the cryptocurrency has 
reclaimed multiple crucial levels, setting the stage for a potential rally. 
However, the cryptocurrency has struggled to reclaim the key $180 resistance 
despite hitting a three-month high of $187 a week ago. A reclaim of this key 
barrier could push SOL’s price toward the $200 mark, enabling a rally to new 
highs. Today’s price action has sent Solana to a 22-day low of $156 after 
losing its $164-$180 price range and the $160 support zone for the first time 
since the May 8 breakout. Trader and analyst Crypto Bullet shared a bearish 
outlook for Solana, suggesting that the token will underperform for the rest 
of the year. He highlighted SOL’s trading pair against ETH, noting that the 
cryptocurrency has been in a rising wedge in the weekly chart since the Q4 
2024 rally. According to the SOL/ETH chart posted by the trader, the 
cryptocurrency has broken down out of the formation after losing the 0.069 
mark. To Crypto Bullet, this signals that “ETH will soon pump way harder than 
SOL.” All Eyes On SOL’s Weekly Close Analyst Rekt Capital pointed out that 
Solana is attempting to continue Weekly Closing within its Range High 
resistance, which is key for its long-term rally. He previously explained that 
the cryptocurrency re-entered its Post-Halving Re-Accumulation Range after 
successfully reclaiming the $120 barrier last month and consolidating within 
the $160-$175 range high. To the analyst, SOL’s price “needs to continue 
demonstrating price stability” around this zone, as that is what is “required 
for SOL to break out from this range into the $200+ levels.” He affirmed that 
Solana needs to aim for a retest similar to late 2024, when the cryptocurrency 
built a base around the Range High ahead of the breakout with multiple weekly 
closes near the resistance zone, which led to a massive breakout to the $200 
mark. Related Reading: Ethereum Repeating Early 2024’s Playbook – $3,800 
Target In Sight? Rekt Capital highlighted that SOL has been successfully 
retesting this area as support over the past few weeks. However, he warned 
that cryptocurrency mustn’t close below the current price zone as it would 
“tease a possible loss of this region as support.” A drop below this range 
could lead to a retrace into the Range Low, between the $120-$135 mark. “Price 
stability at the Orange Range High going forward is thus key here,” he 
concluded. As of this writing, Solana trades at $159, an 11.6% decline in the 
weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Solana Retests Critical Support Amid Market Pullback – $200 Rally In Danger?

US government argues Coinbase user James Harper has no right to block IRS 
access to his crypto records in Supreme Court filing.

Government urges court to reject Coinbase user’s crypto records fight

BlackRock ended its inflow streak with its largest outflow on record, nearly 
$12.7 million more than its previous biggest outflow day.

BlackRock’s Bitcoin ETF ends 31-day inflow streak with biggest outflow ever

The OCC calls for a major boost in financial literacy to navigate the 
explosive rise of digital assets, urging updated strategies to protect and 
inform new crypto investors. OCC Calls for Stronger Financial Literacy on 
Crypto The Office of the Comptroller of the Currency (OCC), the federal agency 
responsible for overseeing national banks and federal […]