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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid a prevailing risk-off sentiment across the digital asset sector, Solana recorded a 5% loss on Tuesday, driving its price below the critical $80 psychological support level. According to reports, this decline marks a historic eighth consecutive monthly drop for SOL, representing the longest losing streak in the asset's history. This negative performance coincided with a broader contraction in the aggregate cryptocurrency market capitalization, which shrank by 3.44% within a single 24-hour window.
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Sign InSolana's struggle comes as altcoins face mounting pressure compared to Bitcoin, with market data indicating that SOL's market cap has retreated significantly from its first-quarter peaks. In comparison to peers, assets like Ethereum and Cardano have faced similar headwinds due to global liquidity constraints; per market data, US Core PCE inflation data released on May 28, 2026, remained elevated at 3.8%, further dampening investor appetite for high-risk assets.
Traders should closely monitor the next support levels near $75, as the price remained under pressure at the close of June 2, 2026. Looking ahead, price action may be influenced by upcoming macroeconomic catalysts, particularly speeches from Federal Reserve officials which will shape interest rate expectations and dictate liquidity flows into the crypto markets in the coming days.