SEC’s ETF Delay Triggers $16 Million Exodus from Solana Spot Markets 📉
The US SEC postponed its decision on several altcoin ETFs, including those tied to Solana, causing investor confidence in SOL to wane further. The significant outflow from Solana's spot markets over 24 hours, totaling $16 million, marks the seventh consecutive day of net withdrawals exceeding $250 million.
The bearish trend is evident as the MACD indicator on Solana's daily chart reveals that the coin’s MACD line is below the signal line, pointing to continued potential selloffs. As of now, SOL is valued at $126.82. The current bearish sentiment may push the price to $110 unless buying activity establishes support at $135.22.
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