Bitcoin sits at $110K this morning, with most tokens down except for Hyperliquid, which has risen 14% from yesterday's lows, and Solana, which is up 4%. Hyperliquid has seen increased perpetual and spot trading volumes, notably when a large order associated with Justin Sun cleared the order book, liquidating positions of those who thought they were hedged. Solana appears to be rebounding after a period of underperformance against ETH, driven by recent announcements and trading activity, though the market remains cautious. Significant figures will be necessary for Solana to reclaim investor interest, especially with the rising trend in memecoin activity. There is the ongoing competition between Ethereum, Thomas Lee's strategies for price prediction, and Solana's integration of memecoins. The outcome will likely affect future trading dynamics for these platforms and the broader market.

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