$SOL Do not blindly buy the dip
• Price: approximately $78.2, intraday low of $77.5, 24H decline of 13.8%, weekly decline of 25.5%.
• Status: Extremely bearish, breaking through key levels at 90, 85, 80, with weak rebounds.
• Market Sentiment: Fear Index at 12 (Extreme Fear), 24-hour liquidation clusters, concentrated forced liquidations.
II. Drivers and Technical Analysis
• Core Trigger: US Treasury Secretary's statement of not intervening in the market, combined with heavy declines in US stocks/precious metals, sharply reduced risk appetite, and intensified leverage liquidations.
• Techn