US crypto funds withdraw $288M as Solana still hold di $68 support
Digital asset investment products record net outflows of $288 million las week, marking five weeks straight of redemptions and bringing total withdrawals to about $4.0 billion. US-listed products lead di sell-off with $347 million outflows, while Europe, Switzerland ($19.5m), Canada ($16.8m) and Germany ($16.2m) see inflows. Trading volumes for exchange-traded products drop to $17 billion, di weakest since July 2025, show market participation dey fall.
By asset, Bitcoin products suffer di biggest withdrawals at $215 million, though short-Bitcoin products attract $5.5 million—show say some people dey take hedge. Ethereum products lose $36.5 million; multi-asset and Tron products get outflows of $32.5m and $18.9m respectively. XRP, Solana and Chainlink record small inflows of $3.5m, $3.3m and $1.2m.
Separately, Solana (SOL) trade near $80 after weekly drop (~6.8%). Technical comment sabi $68.02 na immediate horizontal support and $61.64 na critical level to preserve di larger corrective structure. Resistance dey near $100 and $120. If price break clearly under $68, fit open deeper downside to $53 or $40. Key takeaways for traders: US-driven outflows and falling volumes mean short-term risk-off positioning, Bitcoin remain main liability in fund flows, short-BTC products get relative demand as hedge, and Solana’s $68 support na focal technical level for potential bigger corrective moves.
Bearish
Net outflows wey concentré for US-listed products plus five-week redemption streak mean say institutional and retail investors dey in risk-off mood. Bitcoin products record di biggest withdrawals ($215m), and dat dey put direct pressure for BTC price as fund redemptions reduce demand from one major liquidity channel. Even though short-Bitcoin products get small inflows—meaning dem dey hedge not accumulate bullishly—e no fit cancel di selling pressure. Falling ETP trading volumes (weakest since July 2025) dey reduce market depth and fit make price moves worse if more outflows happen. For SOL specifically, technicals show immediate support at $68; if price break down decisively below dat level e fit target deeper corrections ($53, $40), reinforcing bearish momentum. Short-term impact: bearish for BTC and SOL because of outflows and volume decline; long-term impact: conditional—if outflows stabilise and volumes recover, selling pressure fit ease, but continued redemptions go keep downside risk.