- Solana flexes relative strength as Bitcoin consolidates and RSI flashes overbought.
- Altcoin rotation could fuel a breakout above the key $200 psychological barrier.
Solana [SOL] is flexing serious relative strength, while Bitcoin [BTC] chops around and looks a little overheated.
With BTC’s RSI flashing red-hot, a lot of traders are starting to take some risk off the table — and that usually means altcoins like SOL get a shot.
Does it mean that SOL could break through the $200 wall while Bitcoin catches its breath? It’s building momentum, and if this rotation keeps up, Solana might just pull it off.
Capital rotation signals in play
It’s pretty common to see a cooldown after Bitcoin hits new highs. Think overhang resistance, weak-hand capitulations, and a textbook setup for opportunistic shorts.
It’s not bearish, it’s just rotation logic. Smart money takes a pause, dumb money panics, and Futures get speculative. Solana seems to be making the most of this pause.
Solana’s Open Interest (OI) has jumped 8.27% to $7.9 billion at press time, and the Funding Rate (FR) is still leaning bullish. That confirms that Futures traders are betting on SOL pushing higher.
Compared to other top coins that only saw a 1–5% bump in OI, Solana’s clearly getting more speculative attention.
This is evident in the SOL/BTC pair too, which was up nearly 7% in under three days. As a result, the altcoin pushed up well above its $160 support and about 15.65% higher overall.
Source: TradingView (SOL/BTC)
Solana’s critical 8% move
From where it stands now, Solana needs just an 8% push to break through the $200 barrier. Holding the current level is crucial — and the odds look solid.
Zoom in on the realized profits chart: Even as SOL hovers around $184, profit-taking is tame. Back in the last cycle, at this price, realized profits spiked to $605 million.
Today, it’s just $235 million. That’s a 60%+ drawdown in sell pressure. Translation? The hands holding SOL right now are stronger, more convicted, and likely positioned for higher targets.
Source: Glassnode
Stack that with a surge in Open Interest, bullish Funding Rate, and a post-upgrade narrative pulling in fresh capital, and you’ve got a recipe for rotation alpha.
Bottom line: If buyers step in here, $200 could hit quicker than the shorts can cover.
