After previous crash of SOL i saw a lot instutions money inflow i guess they want to take it back from the retail those who bought in by fomo.
SOL is dead.
1- it did not build userbase big enough to justify marketcap
2- its connected to FTX and SBF so people wont trust it anymore
3- according to what SBF said about "box tokens" in his most famous interview ... it would be faster, cheaper, safer and more profitable to lauch new SOL instead of trying to resurrect the old one.