Solana Breaks Below $90 as Bitcoin Slides Under $76,000
Solana’s $SOL fell below $90 late Tuesday, touching $89.73 on Coinbase during the minute beginning at 10:02 p.m. ET on Nov. 3, as bitcoin also traded below $76,000.
The drop extended $SOL‘s underperformance over the past four weeks. Through 10:10 p.m. ET, $SOL had lost about 23.9% over 28 days, compared with bitcoin’s 9.9% decline, according to The Defiant’s calculations from Coinbase dollar-pair prices. Over the identical window, total crypto market capitalization fell 11.1%, using CoinMarketCap’s aggregate as a broad-market benchmark.
$SOL subsequently recovered above $90, with Coinbase’s ticker recording a $90.39 trade at 10:15 p.m. ET. The rebound left holders facing a much larger multiweek loss than bitcoin’s, even after the brief break below the round-number threshold.
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Coinbase’s minute-by-minute data show $SOL‘s $89.73 print, which also matched the exchange’s reported 24-hour low. Bitcoin reached $75,600.64 during the minute beginning at 10:08 p.m. ET on the same venue.
Over the 24 hours ending at 10:10 p.m. ET, $SOL fell 1.9% and bitcoin lost 1.3%. CoinMarketCap’s total market capitalization declined 1.1% over the matching period, to about $2.54 trillion. That aggregate measures market value, including changes in token supply, rather than the return of an investable price index.
The selloff follows withdrawals from U.S. spot Solana exchange-traded funds last week. Farside Investors’ data show net outflows of $27.7 million on Oct. 29 and $10.8 million on Oct. 30. The tracker recorded zero net flows for both Nov. 2 and Nov. 3.
