• Sol Price has launched a new upward move above the $192 and $202 levels against the US dollar.
• The price is currently trading above $200, a simple moving average of 100 hours.
• The hourly wage chart for the Sol/USD pair (Kraken data source) has an upward channel formed with $205 support.
• Clearing the $212 resistance zone could result in the pair extending their profits.

Solana Price aims for more profits

Solana Price has started to increase considerably after finding support near the $188 zone, like Bitcoin and Ethereum. Sol has entered the short-term positive zone above the $195 level.

The price destroyed $202 resistance. The bull was able to push up prices beyond the $208 barrier. The highs form at $213, with the price consolidating profits above the 23.6% FIB retracement level of upward movements from $177 swing low to $213.

Solana is currently trading above $200 and has a simple moving average of 100 hours. It also forms an ascending channel with $205 support on the hourly chart of the Sol/USD pair.

The advantage is that the price faces resistance near the $212 level. The next major resistance is close to the $215 level. The main resistance could be $220. Successfully beyond the $220 resistance zone allows you to set another steady pace of growth. The next important resistance is $225. Any further profit could potentially send the price towards the $232 level.

SOL’s defect correction?

If the SoL does not rise above the $212 resistance, it may begin to decline. The initial support of the downside is near the $205 zone. The first major support is close to the $202 level.

A break below the $202 level could send prices to a $195 support zone and a 50% FIB retracement level rise level rise level from $177 to $213. If it falls below $195 support, the price could drop towards $188 support in the short term.

Technical indicators

HOURLY MACD – SOL/USD’s MACD is paced in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – SOL/USD’s RSI is above 50 levels.

Key support levels – $205 and $195.

Major resistance levels – $212 and $215.

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Blockchain Group has just taken another big step in building its Bitcoin stash. The Paris-listed firm picked up 624 BTC on Tuesday in a deal worth $68.6 million.

Based on reports, that move pushes its total holdings to 1,437 BTC—now valued around $150 million. It’s clear the company wants to be known as a heavyweight when it comes to holding Bitcoin on its balance sheet.

Accelerated Bitcoin Purchases

Since late 2024, Blockchain Group has been buying Bitcoin in stages. Starting with 15 BTC for $1.1 million in November 2024, then adding 25 BTC the next month, the firm was easing its way in.

The Blockchain Group confirms the acquisition of 624 BTC for ~€60.2 million, the holding of a total of 1,471 BTC, and a BTC Yield of 1,097.6% YTD

Full Press Release (EN): https://t.co/iZUEbRaDTZ
Full Press Release (FR): https://t.co/IgTddli8Hu
BTC Strategy (EN):… pic.twitter.com/0bQ9zaSRN3

— The Blockchain Group (@_ALTBG) June 3, 2025

On March 26, they stepped up by buying 580 BTC. Then, on May 22, another 227 BTC went into their wallet. These steady buys show a growing appetite for Bitcoin as a core asset.

The latest 624 cryptocurrency buy is their biggest single haul yet. It’s a clear sign the group wants to make Bitcoin a foundation in its treasury.

Funding Through Convertible Bonds

Most of the recent Bitcoin buy—544 BTC—was funded by a $63 million convertible bond issued to Fulgur Ventures. Based on reports, the bond allows Blockchain Group to convert debt into shares later, if investors choose.

The rest—80 BTC—came from an almost $10 million capital raise completed in late May. That cash was specifically earmarked for crypto acquisition. Using debt and fresh capital, the firm seems bent on scaling up its Bitcoin holdings quickly. It also shows they’d rather raise funds than tap into existing cash reserves.

Custody And Partnerships

Blockchain Group worked with Banque Delubac & Cie and Swissquote Bank Europe to execute the BTC purchase. Both institutions partnered with Swiss firm Taurus to handle secure custody of the coins.

Image: Nomadic Labs

According to the company, using trusted custodians is key to keeping the digital assets safe. With these partnerships in place, Blockchain Group doesn’t need to worry about managing private keys on its own. That lets them focus on buying more Bitcoin instead of dealing with technical security issues.

Risk And Rewards For Shares

At current prices, the firm’s 1,437 BTC is worth a little over $150 million. As of May 31, the group reported an unrealized gain of nearly $48 million. That’s a healthy return on the earlier buys.

But Bitcoin’s price swings can be sharp. If BTC drops, those paper gains could vanish fast. Plus, issuing a $63 million convertible bond means possible share dilution if bondholders convert to equity.

Reports disclose that Blockchain Group plans to boost its “Bitcoin per share” figure through more targeted capital raises tied to crypto buys.

The big bet is that Bitcoin’s price will keep climbing, making these purchases worthwhile. Yet, if the market takes a downturn, investors could see both coin values and share prices slip.

Featured image from Unsplash, chart from TradingView

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The Trump administration has doubled its Bitcoin strategy, with senior officials highlighting the US government’s commitment to growth in BTC holdings. Today at the Digital Assets Summit in New York, President Trump’s executive director of digital assets, Bohines revealed that the US is determined to accumulate Bitcoin on an unprecedented scale.

“I think it’s time for the president to start accumulating assets for Americans. That’s what President Trump does, not take away from it,” Hines said. He went on to unveil a debate centered on “how to win more Bitcoin in a budget-neutral way” at President Trump’s first digital asset summit at the White House.

When asked how much BTC the government is trying to hold, Hines directly compared Bitcoin and Gold. “You know, I’ve been asked all the time, and it’s like how much you want.

His comments are in line with the administration’s broader strategy after the official establishment of the US strategic Bitcoin Reserve, following President Trump’s March 6 executive order. The initiative will reuse the BTC obtained from confiscation and seizures, ensuring that Bitcoin is under government control as a long-term preparation. The next day, President Trump’s crypto advisor David Sachs highlighted the importance of the move, telling Bloomberg:

Beyond retention, the administration is looking for ways to expand its holdings without any costs for taxpayers. At the White House Digital Assets Summit, President Trump himself said:

The establishment of strategic Bitcoin reserves has already encouraged more legislative measures. US Rep. Byron Donald has introduced a bill that solidifies Trump’s initiative into law, confirming it remains as is for future administrations. Meanwhile, U.S. Senators Cynthia Lumis and Nick Begich have proposed another step asking the US to purchase 200,000 BTC per year over the next five years.

With limited supply of Bitcoin and increasing adoption of institutions, the administration sees BTC as an essential asset for the country’s financial future. “We’re looking at Bitcoin. It’s not security, it has intrinsic conservation value and is traditionally accepted,” Hines said.