Joao Wedson, CEO of cryptocurrency analysis company MakroVision, stated in his assessment of Solana (SOL) that he expects the decline in the SOL/BTC parity to continue.
Wedson recalled that in his previous posts, he stated that the SOL/BTC pair had a weak performance and had entered a distribution cycle.
“I still believe that SOL/BTC is following the same fractal structure that ETH/BTC has followed in the past. Therefore, any slippage in Bitcoin could lead to much steeper declines in SOL/USD,” Wedson said.
Arguing that this scenario will further strengthen Bitcoin Dominance, the analyst stated that the next 45 days will be critical for Solana.
Over the past month, Solana has risen by nearly 30%, while Bitcoin has risen by 24%.
In addition, Wedson, who touched on general market relations for 2025, said, “Bitcoin and Microsoft stocks have the highest correlation since 2017. This correlation has remained strong throughout May, but the strongest correlations are with Vida, Industrial and Commercial Bank of China (ICBC) stocks.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/analytics-company-ceo-warns-this-altcoin-will-decline-in-value-against-bitcoin/