Solana reaches $119 as Bitcoin climbs above $86K amid ETF demand

  • Solana briefly reached $119 and traded above $118 during Monday’s rally.
  • $47.62 million entered U.S. spot Solana ETFs on September 18.
  • Bitcoin rose above $86,000 despite a rate increase and Senate setback.

Solana briefly reached $119 on Monday, returning to levels last seen in January, and was trading above $118 at press time after gaining more than 9% in 24 hours and over 15% in a week. U.S. spot Solana ETFs recorded $47.62 million in net inflows on September 18, led entirely by Bitwise’s $BSOL, after attracting $60.82 million the previous week. Solana also led all Layer-1 and Layer-2 networks in weekly DEX volume for the 21st consecutive week. Bitcoin rose above $86,000 for the first time since January, despite a Federal Reserve rate increase and the CLARITY Act failing to advance in the Senate. Short liquidations totaling $923.67 million, including nearly $785 million from short positions, added buying pressure. U.S. spot Bitcoin ETFs took in $433 million on September 18, while Strategy and Strive Asset Management expanded their Bitcoin holdings. Bitwise CIO Matt Hougan described the environment as crypto spring and said prices may catch up with improving fundamentals toward year-end.

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