Bitcoin's ongoing bull run targeting $145,000, sustained inflows into ETFs, and the rapid advancement of the AI sector are providing significant tailwinds for Solana. The Swedish Parliament's consideration of Bitcoin as a reserve asset is a positive factor bolstering overall market confidence. While the Relative Strength Index (RSI) indicates overbought conditions, the overall market bias is assessed as neutral to slightly bullish.

・Bitcoin Eyes Continued Bull Market with $145K Target While some analysts suggest a potential temporary pullback to $117,000 after Bitcoin reached a six-week high of $119,500, the prevailing view, based on classic chart patterns, targets $145,000 within months. This outlook reflects sustained inflows into Bitcoin ETFs from institutional investors and its preference as a safe-haven asset amid macroeconomic uncertainties. Such optimism could boost overall market sentiment, potentially driving capital into other altcoins, particularly major blockchain projects like Ethereum and Solana. ・Bitcoin Nears $120K High Amid 'Uptober' Optimism Entering October, Bitcoin is showing momentum, approaching a seven-week high near $120,000. This aligns with the tendency for October to be a bullish month, often dubbed 'Uptober,' and suggests continued inflows into risk assets despite uncertainties like a potential US government shutdown. Declining US Treasury yields further support this trend, indicating investor appetite for safer assets, with Bitcoin benefiting from this rotation. This momentum could positively impact not only Bitcoin but also the broader altcoin market, including Solana, fueling expectations of further price appreciation. ・Swedish Parliament Considers Bitcoin as Reserve Asset A proposal has been put forth in the Swedish parliament to consider holding Bitcoin as a reserve asset, aiming to hedge against inflation and diversify national holdings. This move signifies a potential recognition of Bitcoin's value at a governmental level, positioning it as a strategic asset and further bolstering its legitimacy and credibility. Such national-level consideration could influence institutional investors and other countries, potentially encouraging further Bitcoin adoption. Projects like Solana, with their focus on practical use cases, might also benefit indirectly from this evolving landscape. ・XRP Targets $3.66 with 23% Rise Potential, ETF Approval Eyed XRP shows potential for a 23% increase to $3.66 following the establishment of support at $2.80 and a descending triangle breakout. Furthermore, the potential approval of a spot XRP ETF could act as a catalyst for an October rally. Amid ongoing settlement progress with the SEC and increasing legal clarity, XRP's adoption and perceived value are improving. This positive outlook for XRP could have a spillover effect on other altcoins, such as Solana, potentially improving overall market sentiment. ・OpenAI Achieves $500 Billion Valuation, Surpassing SpaceX Artificial intelligence firm OpenAI has reportedly reached a valuation of $500 billion, surpassing SpaceX to become the world's largest startup. The rapid advancement in the AI sector and the substantial capital inflows associated with it present new opportunities for blockchain technology, particularly for platforms like Solana, which exhibit strong synergy with AI. Increased investment in AI-related projects and AI-powered decentralized applications (dApps) is anticipated, potentially boosting the growth of the Solana ecosystem. ・Tether and USDC Dominance Declines, Signaling Stablecoin Market Shift The market share of Tether (USDT) and USDC has reportedly decreased over the past year, suggesting a shift within the stablecoin market. This could indicate the emergence of new stablecoins or evolving usage patterns. Solana, with its capability for high-speed, low-cost transactions, is positioned to potentially facilitate increased stablecoin usage. These market share dynamics present an opportunity for platforms like Solana to foster more efficient and diverse stablecoin applications. ・UK Mulls Paying Victims Seized Bitcoin's Current Value UK authorities are reportedly considering whether to compensate victims of illicit schemes with the current market value (billions of dollars) of approximately 61,000 seized Bitcoins, or just the original principal amount invested (around $862 million). This decision could set a significant precedent for cryptocurrency valuation and victim compensation. If compensation is based on the current value, it could represent a step towards public acknowledgment of Bitcoin's value, potentially enhancing market confidence. This situation might also indirectly influence investment decisions concerning other crypto projects, including Solana. ・Altcoin Season Unlikely, According to Bitget Executive An executive from the major cryptocurrency exchange Bitget has expressed the view that a widespread 'altcoin season,' characterized by numerous altcoins rising simultaneously, is unlikely to occur. The reasoning suggests that traders are largely focused on Bitcoin or specific niche trends, diminishing the prospect of broad-based rallies across the altcoin market. This perspective implies that the performance of individual altcoins, such as Solana, might become less correlated with overall market sentiment. Consequently, investors may need to conduct more thorough analysis and focus on the fundamental strengths of individual projects when considering investments outside of Bitcoin. Overall Summary Bitcoin is anticipated to trend towards its price targets, with potential national-level adoption, such as Sweden's consideration, enhancing its credibility. However, skepticism regarding a broad altcoin season underscores the increasing importance of analyzing individual project fundamentals. Growth in the AI sector and shifts in the stablecoin market may present new opportunities for platforms like Solana.

**Risk Analysis:** An overbought RSI and a breach of the upper Bollinger Band signal potential short-term correction risks. Furthermore, the view from a Bitget executive that "altcoin season will not come" heightens the reliance on individual project fundamentals. The key support level is situated around the recent low of $192. Breaking below this level may increase downward pressure.

Short-term (24-48 hours): Potential for a temporary correction or consolidation due to overbought conditions. However, upward pressure may persist if Bitcoin's momentum continues. Mid-term (1 week): As Bitcoin heads towards its target price, Solana could potentially follow suit. Positive AI-related news or shifts in the stablecoin market may serve as catalysts.

Based on our comprehensive analysis, the Solana market is expected to maintain a neutral-to-slightly-bullish bias. Fundamental factors such as Bitcoin's ongoing bull market, growth in the AI sector, and Sweden's consideration of reserve assets provide significant long-term tailwinds for Solana. However, the risk of a short-term correction cannot be disregarded, indicated by an overbought RSI and potential overheating within the Bollinger Bands. For investors, recommended entry points involve accumulating on dips in the $210-$220 range, or waiting for a confirmed breakout above $235-$240. Profit-taking targets are advised within the $240-$250 range, with partial profit realization recommended. Stop-loss levels should be set below $210 or on a break below the recent low of $192 to ensure rigorous risk management. Key factors to monitor this week include Bitcoin's price action, AI-related news, and regulatory announcements. Vigilance towards market sentiment, combined with adherence to a robust strategy driven by fundamental analysis, is crucial for success in this highly volatile market.