Leading altcoins stumble as Bitcoin faces sell-off threat, with Solana approaching multi-month support at $120.

The last few days have been nothing but a nightmare, with most altcoins falling to multi-week lows. In the same light, the latest Bitcoin News speculates about a major reversal in the cryptocurrency giant, which could shake up the market. One of the main factors driving the panic is speculation that the US government may sell thousands of Bitcoins seized from the black market, which could bring the price of Bitcoin to its lowest level in several months.

As the market reacted to the news, cryptocurrency investors liquidated their positions, causing a massive sell-off. A look at Solana's price suggests that the coin could reach its multi-month support at around $120, which could see it fall more than 54% from its all-time high in November 2024.

Here are some key factors to pay attention to from the latest Bitcoin news trending.

Could the current Bitcoin price be overvalued?

While speculation of $100,000 BTC is optimistic, divergent thoughts in the market believe that the price of Bitcoin may be overvalued and could lead to a sell-off. Fast forward to December 2024, Bitcoin surpassed $100,000. It rose from $52,598 in September to $108,000 ATH by December 2024 in a rally that saw it grow more than 105% in four months.

However, since crossing the ATH in December 2024, Bitcoin price has struggled to maintain momentum. It dropped several times in December, trying to climb back up and continuing the decline from the second week of January to the low of $89,398. This may validate speculation of a sell-off after the $100,000 level, as BTC is currently trading below the 7- and 50-day moving averages on the daily chart.

We could see a rebound on the 100-day moving average held at $86,166 on the daily chart, but until then, it remains crossed as we wait for the latest Bitcoin news from the whales.

Will the downtrend push SOL to $100?

Solana price started 2025 with a lot of energy, opening at $187 on January 1st and rising to a high of $222 on January 6th. However, despite all this optimism, SOL has been bearish since then, falling from $222 on January 6 to $170 on January 13, marking a 23% drop in just 6 days.

Looking at Solana's price on the daily, weekly and monthly charts, a strong bearish signal could push SOL towards $100 before March. However, with the strong community that the Solana ecosystem has built for itself through the Pump.fun platform, we may see a recovery of SOL soon, but this is just a guess.

RTX as a way out of the bearish shock

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Using Remittix is ​​easy. Simply transfer a crypto asset, enter the recipient's bank details, and send it after specifying the amount. There is no hidden cost or delay.

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