Solana Falls 7 Percent as Crypto Sells Off and ETF Money Leaves

Updated 10:46 UTC

Cardano joined the selloff. ADA fell 7.38 percent over 24 hours to $0.2332, down from $0.2518. No Cardano-specific news drove the drop. The token moved with the wider market and fell further than bitcoin, the same pattern altcoins have followed all week.

Derivatives data show traders pulling back. ADA futures open interest fell to $504.96 million on Tuesday from $549.14 million the day before, according to CoinGlass data reported by FXStreet. The funding rate slipped below zero to -0.0121 percent, a sign that more traders now bet on further falls than on a rebound.

The wider pressure has not lifted. CoinDesk reported bitcoin fell to just under $81,000 at 00:50 UTC on Tuesday as South Korea's Kospi plunged more than 6 percent in the chip rout, then recovered above $83,000. Oil stayed high, with Brent near $106 a barrel, and the dollar index held near 102.50, its highest since April last year. ADA trades just above the $0.2300 support area traders watch, where its 50-day average sits at $0.2302. U.S. inflation data on Wednesday, October 14 is the next test for the whole market.

Updated 04:40 UTC

Bitcoin took the worst of it late on Monday. BTC fell below $82,000 in the evening and traded at $81,382 at 9:20 p.m. ET, down 2.8 percent over 24 hours, The Block reported. Forced selling of leveraged bets reached $771 million in 24 hours, including $685.6 million in long positions, according to CoinGlass data cited by The Block. Ether fell 4.6 percent to $2,425 and Solana dropped 7.5 percent on the day. U.S. spot bitcoin ETFs recorded $681.1 million in net outflows last week, their worst week since late June, while spot ether ETFs lost $542 million. Analysts pointed to higher Treasury yields, a stronger dollar and caution ahead of U.S. inflation data on Wednesday.

Updated 02:17 UTC

The selloff widened late on Monday. Ethereum (ETH) fell 5.05 percent over 24 hours to $2,413.35, down from $2,541.83. Dogecoin (DOGE) fell 7.32 percent to $0.0804, down from $0.0867. Both moves fit the pattern set earlier in the day. Ether ETFs lost $542.1 million last week, The Block reported, and oil above $100 a barrel kept inflation fears alive before U.S. inflation data on Wednesday, October 14.

Solana fell hard on Monday. The token, known as SOL, dropped 7.08 percent over 24 hours to $103.55, down from $111.44. The slide built through the U.S. trading day and kept going into the evening, after a flat morning that gave no warning of the size of the move.

Bitcoin fell too, but by less. CoinDesk reported bitcoin near $82,700 late on Monday after a session low near $82,300, a drop of about 1.6 percent on the day at that point. The Nasdaq 100 closed 0.7 percent lower. Crypto stocks fell with the market, and miners lost roughly 3 to 4 percent.

Why traders sold

The trigger was geopolitics, again. Dow Jones reported that bitcoin fell below $83,000 on Monday after Russia kept striking energy sites in Ukraine, hours after President Trump posted that an energy ceasefire had been agreed. Ukraine had not confirmed the truce. Fighting between Saudi Arabia and Houthi forces in Yemen also escalated over the weekend, and strikes hit Riyadh airport.

Oil stayed high as a result. Reuters reported Brent crude above $100 a barrel on Monday. CoinDesk put WTI near $93 a barrel late in the day, still higher on the session, with supply worries still in place. High energy prices feed inflation. That makes fast rate cuts less likely and makes risky assets, crypto included, less attractive to hold. Treasury yields had already climbed to 24-year highs earlier this month, Reuters reported.

Why Solana fell harder

Solana had a second problem that bitcoin did not. U.S. spot Solana ETFs lost $24.8 million last week, The Block reported. It was their largest weekly outflow since the funds launched in late October 2025, and it ended a record run of 14 straight weeks of inflows. The funds lost money in all five sessions. Bitwise's BSOL fund accounted for $20.9 million of the total, about 84 percent.

The selling was wider than Solana. Spot bitcoin ETFs lost $681.1 million last week and spot ether ETFs lost $542.1 million, about $1.25 billion across the three groups. When that much institutional money steps back at once, smaller tokens usually fall further than bitcoin. On Monday, they did.

What happens next

Traders now wait for U.S. inflation data on Wednesday, October 14. CoinDesk reported headline inflation is forecast at 3.7 percent, with core inflation at 2.5 percent. A hot reading would lift rate hike fears and could pressure crypto again. A soft reading would ease yields and give tokens room to recover. CoinDesk analysts put bitcoin support at $82,000. If bitcoin loses that level, Solana will likely stay under pressure with it.