- Solana tumbles to lows of $125 amid a sharp sell-off in cryptocurrencies.
- The drop in SOL price puts bulls at risk of seeing the $100 level tested.
- Solana spot ETFs continue to attract inflows.
Solana has come under heavy pressure over the past week, falling to around $125 after an 11% decline in the last 24 hours.
The selling wave reflects broad weakness across digital assets, as Bitcoin’s retreat — driven by a shift in global risk appetite — spilled over into the altcoin market.
As of the start of trading on Friday, November 21, CoinMarketCap data showed none of the top-100 cryptocurrencies trading in positive territory, underscoring the depth of the correction and a lack of short-term risk appetite.
Injective, Dash and NEAR were among the biggest losers, while Ethereum, XRP and Solana all logged double-digit percentage declines.
Ethereum fell below $2,700 and XRP slipped under $1.90
Why Solana’s price is falling
Solana’s sharp slide toward the $125 area mirrors a wider market pullback driven by macroeconomic headwinds and a clear technical breakdown.
One of the main triggers has been renewed uncertainty around the US central bank’s rate decisions.
Bitcoin, the sector’s bellwether, slipped to lows near $82,000, dragging altcoins like Solana into the sell-off.
Market data shows SOL’s 24-hour trading volume surged about 42% to more than $9.63 billion.
Rising volume alongside falling prices pointed to panic selling as markets reacted ahead of the upcoming FOMC meeting.
Expectations for a December rate cut have plunged sharply to 31%.
The shift followed an announcement from the US Bureau of Labor Statistics that the October employment report will not be released and the November report will come out only after the FOMC decision, leaving policymakers and investors without two key labor readings at a critical juncture.
According to Lark Davis, the move means Fed Chair Jerome Powell will be “flying blind into the FOMC meeting.”
That uncertainty has rattled markets, with investors anticipating the Fed may take a cautious approach and leave rates unchanged.
SOL ETFs see inflows despite price drop
Despite the price decline, Solana spot ETFs have continued to record inflows. Data indicate the market maintained interest in the ETFs even as SOL’s price weakened.
On November 20, while Bitcoin spot ETFs recorded outflows of more than $903 million and Ethereum spot ETFs logged redemptions exceeding $260 million, Solana products held steady.
SoSoValue data show investors poured $23.6 million into SOL spot ETFs, pushing cumulative net inflows to over $499 million.
The key question is whether investor confidence in Solana via ETF products could spark a rebound for bulls.
If prices continue to fall, the primary support level to watch is the psychological $100 area.