【SOL ETF Outflow】
The ETF that had kept a 14-week streak of net inflows for $SOL ended last week, and it was the largest single-week outflow since launch.
All you need to know about this are 3 things:
1️⃣ U.S. spot SOL ETFs saw a net outflow of about $24.8 million last week, with Bitwise's BSOL alone accounting for about $20.9 million.
2️⃣ Don't focus only on the outflow. Two weeks ago, the same group of funds had just set a record with $188 million in weekly inflows. This outflow was only about one-seventh of that.
3️⃣ The price had already fallen first: Binance spot SOL was at 109.52 (Oct 11, 17:00), down nearly 10% over the week, with the daily RSI around 21.5, in oversold territory.
My view: In the same week, BTC and ETH ETFs were also seeing outflows, which looks more like a broader institutional de-risking than a targeted bearish call on SOL. I lean toward it finding a bottom in the 94.7–98.5 support zone rather than a quick V-shaped rebound.
Invalidation: If ETFs continue to see outflows this week and the daily close breaks below 94.7, that would mean money is truly leaving. In that case, I'd admit I was wrong, and the next stop would be 83–85.
Will SOL ETFs turn back to net inflows this week?
Source: The Block, SoSoValue
$SOL #Solana #ETF
#BinanceSquare
⚠️ The above is a summary of information and personal opinion only, and does not constitute investment advice. DYOR.
The ETF that had kept a 14-week streak of net inflows for $SOL ended last week, and it was the largest single-week outflow since launch.
All you need to know about this are 3 things:
1️⃣ U.S. spot SOL ETFs saw a net outflow of about $24.8 million last week, with Bitwise's BSOL alone accounting for about $20.9 million.
2️⃣ Don't focus only on the outflow. Two weeks ago, the same group of funds had just set a record with $188 million in weekly inflows. This outflow was only about one-seventh of that.
3️⃣ The price had already fallen first: Binance spot SOL was at 109.52 (Oct 11, 17:00), down nearly 10% over the week, with the daily RSI around 21.5, in oversold territory.
My view: In the same week, BTC and ETH ETFs were also seeing outflows, which looks more like a broader institutional de-risking than a targeted bearish call on SOL. I lean toward it finding a bottom in the 94.7–98.5 support zone rather than a quick V-shaped rebound.
Invalidation: If ETFs continue to see outflows this week and the daily close breaks below 94.7, that would mean money is truly leaving. In that case, I'd admit I was wrong, and the next stop would be 83–85.
Will SOL ETFs turn back to net inflows this week?
Source: The Block, SoSoValue
$SOL #Solana #ETF
#BinanceSquare
⚠️ The above is a summary of information and personal opinion only, and does not constitute investment advice. DYOR.