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March 16, 2025
PI Global Investments
Bitcoin

Ethereum, Bitcoin & SUI – American Wrap 20 February


Solana (SOL) is down over 40% from its peak of $295.83, trading to $172.98 on Thursday at the time of writing. The Ethereum competitor led Bitcoin bull market gains in 2024. However, recent developments have eclipsed the gains in the SOL ecosystem. 

Ethereum

Sui (SUI) price action hints at a double-bottom technical formation, which tends to be followed by a bullish move. The Coinglass long-to-short ratio for SUI stands above one and rises, indicating more traders are betting for a rally in SUI.

SUI/USDT daily chart

Bitcoin (BTC) has been consolidating between $94,000 and $100,000 since February 5. Glassnode reports weakening capital inflows and declining derivatives activity, with short-term holder accumulation resembling challenging market conditions. 

Market: Top assets price performance 30-day chart. Source: Glassnode

 




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