November 3 data: $SOL spot ETF flows are still weakening, and the price rebound has yet to receive institutional backing.
Data shows that U.S. spot $SOL ETFs saw net outflows of about $71.47 million last week—the largest weekly outflow since the products launched and the fourth consecutive week of net outflows. The daily peak occurred on October 29, at about $27.7 million. Four consecutive weeks of outflows in the same direction suggest this is not a one-day shift in sentiment, but a systematic reduction in institutional exposure.
On-chain signals point in the same direction. On-chain tracking shows that about 1.49 million $SOL , worth approximately $148.7 million, was transferred to exchanges, creating potential selling pressure. Transfers do not necessarily mean sales, but their occurrence during the same period as large ETF outflows means the balance of tokens is clearly tilted toward the selling side.
In terms of price, $SOL was around $92 on November 3, down about 2.8% over 24 hours and about 8.5% over the past week. Technical indicators are also weak: MACD is in the sell zone, while RSI is around 31.6 and has yet to enter a recovery phase following extreme oversold conditions.
The conditions that could trigger a rebound are becoming fairly clear: weekly ETF flows need to stabilize, or the price needs to reclaim the $100 level. Until then, overhead resistance for $SOL remains stronger than support below, making it unattractive to chase a rebound.
#SOL #ETF资金流 #链上数据 $SOL
Personal opinion only; this does not constitute investment advice
Data shows that U.S. spot $SOL ETFs saw net outflows of about $71.47 million last week—the largest weekly outflow since the products launched and the fourth consecutive week of net outflows. The daily peak occurred on October 29, at about $27.7 million. Four consecutive weeks of outflows in the same direction suggest this is not a one-day shift in sentiment, but a systematic reduction in institutional exposure.
On-chain signals point in the same direction. On-chain tracking shows that about 1.49 million $SOL , worth approximately $148.7 million, was transferred to exchanges, creating potential selling pressure. Transfers do not necessarily mean sales, but their occurrence during the same period as large ETF outflows means the balance of tokens is clearly tilted toward the selling side.
In terms of price, $SOL was around $92 on November 3, down about 2.8% over 24 hours and about 8.5% over the past week. Technical indicators are also weak: MACD is in the sell zone, while RSI is around 31.6 and has yet to enter a recovery phase following extreme oversold conditions.
The conditions that could trigger a rebound are becoming fairly clear: weekly ETF flows need to stabilize, or the price needs to reclaim the $100 level. Until then, overhead resistance for $SOL remains stronger than support below, making it unattractive to chase a rebound.
#SOL #ETF资金流 #链上数据 $SOL
Personal opinion only; this does not constitute investment advice
