Bitcoin Battles to Defend $115K as Solana and Dogecoin Flex Resilience Amid Market Jitters

Crypto markets wobble as Bitcoin fails to cement its footing above $115K—while Solana and Dogecoin shrug off the bearish pressure with surprising vigor.

Altcoins Outperform as BTC Stalls

While the king of crypto plays defense, SOL and DOGE are posting relative strength, hinting at a potential altcoin rotation. Traders chase momentum where they can find it—even if it means betting on meme coins and Layer 1s with 'disruptive' roadmaps.

Risk-Off Mood? Not for Everyone

Macro fears linger, but crypto’s speculative underbelly refuses to sit still. Solana’s ecosystem buzz and Dogecoin’s cult following keep them buoyant—proving once again that in crypto, fundamentals sometimes take a backseat to vibes and viral narratives.

The Bottom Line

Bitcoin’s struggle is a reminder: even in a bull market, gravity exists. Meanwhile, altcoins dance on its shoulders, fueled by hopium and the timeless wisdom of 'number go up.' Wall Street analysts, clutching their Excel models, remain baffled.

Altcoin season over?

Altcoins, meanwhile, have struggled. solana (SOL) is down nearly 20% from last week’s highs, and XRP (XRP) is flatlining near $3 despite broader market stabilization. A colloquial narrative that “altseason” is imminent has weakened, with traders rotating capital back into majors or moving to the sidelines entirely.

Part of the risk-off tone stems from Friday’s U.S. jobs report, which came in weaker than expected, and a fresh round of trade tensions from Washington. The result is a broad flight to safety in global markets, with crypto caught in the crossfire.

Friday also marked the second-largest outflow day for Bitcoin spot ETFs, and the fourth-largest for ether, dimming hopes that institutional flows would offer short-term price support.

Still, not all desks are turning bearish. QCP Capital noted in a Monday note that the broader structure remains bullish.

“The recent drawdown appears more corrective than capitulatory,” the firm said in a client note. It highlighted growing activity in BTC options markets — specifically 29AUG25 call flys targeting $124,000 — as a sign that sophisticated players are positioning for a rebound.

Put skew remains elevated but is not yet flashing panic. A MOVE back above $115,000, combined with a rebound in ETF inflows and compressing implied volatility, could flip sentiment quickly, QCP said.

Until then, traders are closely monitoring ETF FLOW data. If institutional demand stabilizes and macro jitters subside, this week’s consolidation could set the stage for a renewed push toward new highs.

However, if outflows persist and risk appetite continues to fade, especially in alternative assets, markets may face another wave of de-risking before finding a true floor.