Solana falls below $90 as ETF outflows and bearish technical signals intensify

Solana (SOL) extended its losing streak on Friday, dropping below the key $90 threshold to trade near $89.65, its lowest level in two months. The broader cryptocurrency market experienced a significant selloff, resulting in more than $1 billion in liquidations across digital assets. SOL’s price was hit particularly hard, plunging over 6.5% in the single day. Investor appetite for Solana appears to be fading, with institutions scaling back on risk-sensitive assets amid heightened financial uncertainty. Solana-focused Exchange-Traded Funds (ETFs) listed in the US registered $1.18 million in net outflows on Thursday, according to data from SoSoValue. This marked the end of three sequential trading days without any fresh inflows or outflows. Last week, SOL ETFs experienced a substantial $71.47 million in net outflows, setting a new record for weekly withdrawals.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.