Seven days of Solana ETF outflows: can SOL hold $67?

Solana trades at around $70.40 on Sunday morning, or roughly €63.90, after briefly touching $67.55 overnight, its lowest level since late June. The trigger is not a single event but a series: the US spot Solana ETFs have lost money for seven trading days in a row, around $58.3 million in total, and in the futures market leveraged bets worth around $69 million were forcibly closed within a day. According to CoinGecko, the loss over 24 hours is 6.8 percent and over seven days 20.4 percent.

What is established: the August level at $71.89, seen as the last line of defence before the low for the year, gave way over the weekend, and the outflows from the funds are not letting up. Our assessment follows further down. As long as the ETFs keep losing money and the futures market is still shaking off surplus long positions, a test of the zone around $67 looks more likely than a quick recovery.

How the price could develop over months to years is set out in our Solana price prediction with long-term scenarios. This piece stays with the days and weeks after the slump: where the selling pressure is coming from, what the liquidations reveal about the state of the futures market and which levels matter now.

SOL on Sunday morning: $70 after an intraday low of $67.55

The range of the past 24 hours is unusually wide. According to CoinGecko, the high was $76.12 and the low $67.55, a gap of a little over 11 percent on a single weekend day. On Saturday SOL closed at $78.26, and on Friday it was still at $81.64. Anyone who bought at around $90 a week ago is now sitting on a loss of a good 20 percent.

The market as a whole also gave ground, though less sharply. Over the same period, Bitcoin lost 4.3 percent to around $64,380 and Ether 5.9 percent to $1,791. SOL therefore fell harder than both of the big names. Over 30 days, Solana's loss adds up to almost 33 percent, and the price is around 76 percent below the record high of $293.31 from January 2025.

The moving averages also show how far the price has drifted from the trend. Based on CoinGecko daily closes, the 20-day average stands at $90.23, the 50-day average at $102.83 and the 200-day line at $88.84. The 200-day line is the average of the closing prices of the past 200 days; many traders read it as the dividing line between an intact and a broken long-term trend. SOL now trades around 21 percent below it.

Since Saturday: the August level at $71.89 has broken

In our analysis on Saturday morning, SOL stood at $75.20. That piece named the August low at $71.89 as the warning level and $82.16 as the first recovery level. A little over 24 hours later the picture is clear. The recovery level was never reached, with Saturday's high at around $76. The warning level, on the other hand, has fallen, and not narrowly. The price slipped around $4.30 below it before buyers stepped in.

Three things are new since then. First, the ETF outflows have become a seven-day streak rather than a single weak Friday. Second, the slump in the futures market has set off a wave of forced closures that could not be foreseen on Saturday. Third, the Breakpoint conference has opened in London without lifting the price. Our report on the start of the conference describes the overnight slide in detail.

Seven straight days of outflows: $58.3 million leaves the Solana ETFs

The US spot Solana ETFs are exchange-traded funds that hold SOL directly and whose shares trade on US exchanges. According to data compiled by Coinpaper, money flowed out of these products on seven consecutive trading days, around $58.3 million in total. On the last trading day, Friday, November 13, preliminary figures put the outflow at around $3.1 million, all of it from Fidelity's fund.

Measured against total assets, this is not a sell-off. According to SoSoValue data published on KuCoin, the funds together manage around $1.14 billion, and cumulative net inflows since launch stand at around $1.41 billion. The $58.3 million therefore equals about 5 percent of fund assets. The direction weighs more heavily. A few weeks ago, fresh money was still arriving from asset managers. That buyer is now missing, precisely at a time when the price could do with support.

For the new week, this is the most important number. The ETFs do not trade again until Monday. An eighth day of outflows would show that the institutional side does not see the slump as a buying opportunity. An inflow would be the first counter-signal since early November.

How an ETF outflow feeds through to the SOL price

The mechanism is simpler than it sounds. If investors sell more fund shares than are being created, the share price slips slightly below the value of the SOL the fund holds. Specialised trading firms, known as authorised participants, then hand shares back to the fund. The fund shrinks and, in return, releases SOL or sells it on the market. Either way, extra supply lands on the spot market.

At $58.3 million over seven days, this pressure is manageable compared with daily trading volume of several billion dollars across all exchanges. The real effect is psychological. Traders in the futures market watch the flow data every day, and a streak of outflows gives them a reason to build short positions or close long ones. That is exactly what happened over the weekend.

$69 million in liquidations: 97 percent hit long positions

A liquidation is the forced closure of a leveraged position. If you bet on rising prices with ten times leverage, for example, you only put up a tenth of the position's value as collateral. If the price falls by just under 10 percent, that collateral is used up and the exchange closes the position automatically. The selling from such closures pushes the price down further and can reach the next group of positions, a downward chain reaction.

According to CoinGlass figures analysed by Coinpaper, SOL positions worth around $69 million were liquidated within 24 hours. Around $67.25 million of that, or 97 percent, was in long positions, meaning bets on rising prices. At the same time, open interest, the value of all outstanding futures contracts, fell by 11.4 percent to around $4.21 billion. The figures differ depending on the data provider and the exchanges covered; CoinGlass's live overview showed a smaller 24-hour figure on Sunday morning, also with a long share of around 90 percent.

Funding rate turns negative: what the futures market says about sentiment

The funding rate is a balancing payment between buyers and sellers of futures contracts with no expiry date, known as perpetuals. When it is positive, the long side pays the short side; when it is negative, the sellers pay. According to the CoinGlass overview, the open-interest-weighted rate for SOL was slightly negative on Sunday morning, at around minus 0.0008 percent per eight hours.

That sounds trivial, but it says something about the state of the market. The leveraged buyers have largely been flushed out, and the traders who remain are leaning towards further declines. Historically, that picture cuts both ways. A futures market without overleveraged buyers has less fuel for further forced selling. At the same time, a growing number of short positions can come under pressure themselves in a rebound, if sellers have to close their bets in a hurry.

For investors who hold SOL without leverage, the funding rate is above all a sentiment gauge. It shows whether new excesses are building up in the futures market. If it climbs clearly back into positive territory over the coming days while the price falls, leveraged traders are once again buying the dip on credit, and the risk of a second wave of liquidations grows.

Breakpoint 2026 in London: the conference opens into a headwind

The Breakpoint developer conference runs from November 15 to 17 at the Olympia hall in London, the first time it has been held in Europe. The Solana Foundation has announced speakers from the world of finance, including representatives of DTCC, Mastercard and Western Union, Revolut chairman Martin Gilbert and former British prime minister Boris Johnson. The guest list is on the Solana Foundation's website.

So far, the conference means little for the price. Major announcements are more likely on the following days, and they will meet a market driven from outside: expectations of higher US interest rates, ETF outflows in Bitcoin and Ether and a fear index in the zone of extreme fear. In this environment, a product announcement can briefly attract buyers, but it cannot end the outflow streak on its own.

Support levels for SOL: $67.55, then the June low at $62.18

The first level on the downside is the overnight low at $67.55. It coincides almost exactly with the closing prices of June 25 and 26, at $67.95 and $67.63. Back then, the price turned higher from this zone and climbed to around $109 by the end of August. Traders often pay attention again to a level where buyers have stepped in before. That is the question in the headline: will the zone around $67 hold a second time?

Below that comes the low for the year from June 7 at $62.18, based on CoinGecko daily closes. There is hardly any intermediate stop between the two levels. If SOL breaks below $67.55, a further slide of 8 percent to the June low is therefore possible without any major hurdle. If that level also falls, Solana will be trading at its lowest since the first quarter of 2024.

On the upside, the hurdles are clear. First comes the intraday high at $76.12, then Saturday's close at $78.26. Only above that would the overnight slump be made good. The recovery level from Saturday's analysis at $82.16 is around 17 percent above the current price and a distant target for the week ahead.

Scenarios to the end of the month: a floor above $67 or a test of the year's low

Stabilisation scenario: from Monday, the ETFs report inflows again, or at least no further outflows, the funding rate stays neutral and SOL holds the zone around $67.55 on a daily closing basis. In that case, a recovery to $76 to $78 is realistic, back to the levels from which the slump began.

Further sell-off scenario: an eighth and ninth day of outflows, combined with Bitcoin falling back below $62,000, would put the zone around $67 under pressure. If it gives way, the June low at $62.18 comes into view, and with it a new round of liquidations among traders who bought the dip.

Our assessment: for now, more points to the second scenario, or at least to a test of the zone around $67. The evidence is the seven-day outflow streak of $58.3 million, a price around 21 percent below the 200-day line and the negative funding rate. Against that, with $67.25 million in long positions liquidated, a large part of the leverage has already left the market; floors often form right after waves like this. This is an assessment of the situation, not a recommendation to buy or sell. A total loss can never be ruled out with crypto assets.

Leverage limits and MiCA: SOL for retail investors in the EU

The wave of liquidations mainly affects traders on international derivatives exchanges. For retail clients in the EU, leverage on crypto CFDs from regulated brokers has been capped at two times since the product intervention by the European securities regulator ESMA, a limit that national supervisors have adopted. If you trade SOL with such a provider at 2x leverage, you are only stopped out after a price drop of around 50 percent, not after 10 percent. How providers differ on leverage, margin and costs is shown in our overview of the best crypto brokers.

When buying, full MiCA obligations have applied since the end of the transition period: anyone who brokers crypto assets to clients in the EU needs authorisation as a crypto-asset service provider. Which platforms hold this licence is shown in our overview of regulated crypto exchanges. In a fast market like this one, it also pays to look at execution. With an 11 percent range in a single day, a limit order at a fixed price often has more effect on the outcome than the fee does.

Solana below $71.89: only above $78.26 does the pressure ease

1. Set your levels: set a price alert at $67.55 as the warning level and at $78.26 as the recovery level. That way you do not have to spend the conference days in front of the screen. Which exchanges offer price alerts and limit orders at low cost is shown in our exchange comparison.
2. Limit your leverage: if you trade futures contracts, use isolated margin so that a liquidation only hits the individual position and not the whole account. Providers' terms and leverage limits are listed in our comparison of perp exchanges.

(As of November 15, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)