The spectacular rise of Solana (SOL) by 8% this Monday

This impressive dynamic is, however, closely linked to global economic developments, particularly the trade tensions caused by the United States

The spectacular rise of Solana (SOL) by 8% this Monday, to go hand in hand with bitcoin (BTC) approaching $90,000, is a snapshot of the current volatility of the crypto market. But this impressive dynamic is closely linked to global economic developments, and more precisely to the trade tensions caused by the United States, which overhang the future of cryptocurrencies and investor confidence.

Solana continues its rise in the wake of bitcoin

The start of the week was marked by a notable increase in bitcoin and Solana, fueled by specific factors that highlight a market dynamic different from previous surges.

Some analysts from the trading firm QCP state that “the rally appears to be truly driven by spot demand rather than speculative positions via futures contracts.” Such a distinction is crucial, as previous bull markets were often fueled by significant leverage, which heightened the risk of brutal corrections.

The main elements contributing to this ascent are:

In this context, Solana’s rise is also explained by a more specific phenomenon: the strong comeback of certain meme coins based on its blockchain. Among them, Fartcoin surged by 15% to reach $0.56, while other low-cap assets followed suit.

This trend suggests that Solana could benefit from a renewed speculative interest, in addition to the broader dynamic driven by bitcoin.

The stakes behind Trump’s economic policy

While the rise of bitcoin and Solana is grabbing headlines, Donald Trump’s trade policies are doing just as much, particularly with the announcement of new taxes on oil imports from Venezuela.

Trump, via his social networks, has specified that starting April 2, countries buying Venezuelan oil will have to pay an additional 25% in taxes. A decision that, although directly related to energy resources, could have significant repercussions on global financial markets, including those of cryptocurrencies.

The consequences of this new tax are still unclear, but crypto market observers remain cautious. Thus, bitcoin futures contracts, which reached $53 billion this Monday, could suffer, as heightened economic uncertainty often encourages investors to disengage from riskier assets.

It should also be noted that crypto investment products have ended a series of five consecutive weeks of losses. Despite economic tensions, some crypto investors remain optimistic in the short term.

However, experts from QCP Capital emphasize that all this could change if the tariff escalations proposed by Trump materialize, which would thus fuel increased volatility in the markets.

In summary, the current rise of Solana and bitcoin, while remarkable, remains fragile and vulnerable to geopolitical and economic pressures. While real demand seems to be playing in favor of crypto, trade uncertainty could well pose a major obstacle to this dynamic.

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