Solana (SOL) attempted to reach the $100 mark on May 12th and rose to the $98 price level. However, the cryptocurrency faced rejection and has since fallen to the $90 range. According to CoinGecko data, SOL price has fallen by 4.5% in the past 24 hours and has fallen by 50.4% since mid-May 2025. Despite the correction, SOL maintained some gains in other time frames, rising 1.9% on the week, 9.6% on the 14-day chart, and 5.8% month-on-month. Let’s take a look at why Solana (SOL) price is facing a decline and why it could bounce back soon.
Why is Solana facing a price decline?
The rise in the price level of Solana (SOL) to $98 came as Bitcoin (BTC) rose to the $82,000 level. However, BTC subsequently faced a price correction and fell to the $78,000 level today, May 14, 2026. A correction in BTC could be a factor in the price decline of Solana (SOL).
One of the reasons behind Solana’s (SOL) adjustment may have been higher than expected Producer Price Index (PPI) numbers. The numbers suggest inflation remains out of control and could lead to the Federal Reserve delaying rate cuts.
Bitcoin (BTC) and a major market correction could also be fueled by questions surrounding the CLARITY Act. The Cryptocurrency Promotion Bill is up for vote today, and two aspects of the bill are still in dispute. Solana (SOL) and other cryptocurrencies may have suffered due to the lack of consensus. However, Sen. Lummis expects the differences to be ironed out after the bill passes.
Also read: How Solana is eating up the Ethereum market
Another factor in the decline could be the US’ rejection of Iran’s ceasefire request. This development may have led to increased investor anxiety, particularly around risky assets such as Solana (SOL) and other cryptocurrencies.
(Tag translation) Solana
