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As the crypto market regains its bullish momentum, Solana (SOL) is in the spotlight, with market expert VirtualBacon offering insights on what investors might expect for the altcoin’s price action in the coming months. In a recent post on social media platform X (formerly Twitter), he posed the intriguing question: Will Solana hit a new all-time high in 2025?
Solana 29x Rally Since 2022 Lows
Solana, which once soared to $250 before dropping below $100, is now on the rise again. VirtualBacon’s analysis suggests that while the current rally is promising, Solana has not yet established itself as a leader in the market.
The expert noted that although the SOL price has rallied significantly—29 times off its 2022 lows—it has not broken new ground against Bitcoin (BTC), a key indicator of market strength.
The SOL/BTC chart illustrates a typical altcoin pattern, having bounced to the 0.618 Fibonacci level without achieving new highs against Bitcoin. This indicates that while Solana’s price is recovering, it has yet to demonstrate leadership in the market. VirtualBacon stresses that to reach ambitious price targets, such as $500 or more, Solana needs to break out of its current BTC ratio constraints.
As the competition in the cryptocurrency landscape intensifies, VirtualBacon highlights Solana as Ethereum’s only real competitor, noting its strong positioning in decentralized finance (DeFi), active wallets, and decentralized applications (DApps).
However, VirtualBacon points out that to advance further, Solana requires greater institutional buy-in—a factor that could significantly enhance its market position.
Ambitious Price Targets Awaiting BTC Breakout
Recent developments lend credence to this potential. The Chicago Mercantile Exchange (CME) has launched futures for Solana, joining only Bitcoin and Ethereum in this exclusive category.
Additionally, the SEC’s recent decision to drop the “security” lawsuit against Solana and Canada’s approval of a spot ETF further bolster the asset’s credibility. Notably, Fidelity has filed for a US spot ETF, while BlackRock is reportedly building quietly on the Solana network, indicating growing institutional interest.
VirtualBacon outlines several price targets based on Bitcoin’s potential performance. If Bitcoin reaches $200,000, a corresponding SOL price could be around $440; at $250,000, Solana could hit $600.
However, for Solana to reclaim its status as a top-tier asset, VirtualBacon asserts that the altcoin needs to break its BTC high from March, potentially pushing SOL into the $700 to $800 range.
Looking ahead, VirtualBacon discusses the timelines for these developments, suggesting that ETF approvals are likely by October 2025, along with a potential Federal Reserve pivot and pause in quantitative tightening by the fourth quarter of 2025. He anticipates that the altseason could run through mid-2026, pushing his timeline for significant Solana price action to Q2 or Q3 of 2026.
VirtualBacon believes that reaching a Solana price of $440 to $600 is achievable, while surpassing $800 will require a breakout in its BTC ratio. The upcoming ETF approvals and Fed policy changes could serve as crucial catalysts for this movement.
Featured image from DALL-E, chart from TradingView.com
