- Solana (SOL) has dropped below $80, declining 2.5% daily and 5.4% weekly according to market data.
- The correction is linked to heightened US-Iran tensions and their potential impact on inflation and Federal Reserve policy.
- Despite current bearish pressure, SOL is far above its 2022 lows below $10 following the FTX collapse.
Solana (SOL), the seventh-largest cryptocurrency by market cap, has once again fallen below the $80 mark this June after a failed attempt to reclaim $100 in May. CoinCodex SOL statistics show the asset trading in the red across all time frames.
The latest price correction follows unsuccessful peace talks between the US and Iran, with both nations calling for a closure of the Strait of Hormuz. Consequently, this geopolitical development threatens to push global oil prices higher, which could negatively impact inflation figures. Solana began its downward trajectory last month after US inflation for April 2026 came in higher than anticipated.
The potential for rising inflation may pressure the Federal Reserve to maintain or even hike interest rates. Such macroeconomic tightening could lead Solana to face additional sell pressure in the near term. However, the asset’s current levels were last seen in early April, indicating a significant retracement from its recent highs.
Meanwhile, Solana remains one of the market’s most resilient cryptocurrencies, having recovered strongly from its 2022 crash below $10. The broader crypto market’s performance is currently dependent on these larger macroeconomic developments. Therefore, a sustained rebound for SOL may not occur until the US-Iran conflict concludes and market conditions improve.
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