Bitcoin (BTC) Touched $66K, Solana's (SOL) Dumped 6% as Memecoin Trading Heats Up

The slide came after the U.S. government moved $2 billion worth of bitcoin, raising concerns of potential selling pressure.

Bitcoin price dropped below $66,000 on Monday evening as the slide came after the U.S. government moved $2 billion worth of bitcoin, raising concerns of potential selling pressure.

Solana’s SOL led losses among majors with a 6% dump, reversing Monday gains. Token prices surged as memecoin trading heated up on the network over the weekend, with on-chain trading volumes surging over Ethereum, the usual leader.

Ether showed relative strength with a 1% decline, despite the newly-launched spot ETH exchange-traded funds seeing $97 million in net outflows on Monday, their fourth-straight day.

On Saturday, Republican candidate Donald Trump, during a speech at the annual Bitcoin 2024 conference in Nashville, promised to fire SEC head Gary Gensler and create a strategic Bitcoin reserve if elected.

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