The days following the one-year anniversary of the “10/10” crypto crash have seen significantly volatile price action. Bitcoin climbed back above $83,000 on October 13 after briefly falling below $81,000 late Monday night. This decline followed a period when Bitcoin hit the $87,000 level several times in late September and early October. $BTC now trades around $83,100, although it remains down 3.2% over the past 7 days.
Altcoins have suffered steeper declines. $SOL fell 11% over the past week, while $HYPE dropped 13%, $DOGE lost 12%, $XRP declined 10%, and $ETH fell 8%.
$SOL briefly slipped below $102, reaching its lowest level in almost a month before recovering to around $107. Despite the rebound, $SOL remains down 3.2% over the past 24 hours and 11% over the week.
$812M in Liquidations Deepen the Sell-Off
Crypto markets recorded $811.79 million in liquidations over the past 24 hours, according to CoinGlass. A total of 169,779 traders were liquidated.
Long positions accounted for $689.11 million, representing approximately 84.5% of total liquidations. Short positions contributed $126.12 million.
The largest individual liquidation order reached $9.65 million on Binance's BTCUSDT market. Binance accounted for 50.4% of the liquidation volume shown on the dashboard.
Crypto Sentiment Slides Toward Neutral
Investor sentiment has weakened alongside prices. CoinMarketCap’s Crypto Fear & Greed Index fell to 55, placing the market in neutral territory. The index stood at 67 a week ago and reached 82 in August, its highest reading of the year.
The decline signals a cooling in risk appetite after the market's earlier period of extreme greed.
Solana ETFs Record First Weekly Outflows Since June
U.S. spot Solana ETFs have experienced 6 consecutive days of net outflows. Last week, the funds recorded $24.8 million in net outflows, marking their first negative week since June.
The slowdown follows a strong period of demand. During the week ended September 25, the funds attracted more than $188 million in net inflows, their strongest weekly performance since launching in 2025.
Solana's ETF outflows form part of a wider retreat from U.S. spot crypto investment products. Last week, spot Bitcoin ETFs recorded $681.1 million in net outflows, their largest weekly outflow since June, while Ethereum ETFs lost $542 million, their biggest weekly outflow since January.
The selling continued into this week. Yesterday, October 12, U.S. spot Bitcoin ETFs recorded $65.4 million in net outflows. Meanwhile, spot Ethereum ETFs recorded $85.4 million in outflows on October 12, extending their losing streak to 10 consecutive sessions.
Against this backdrop, Solana ETFs' 6 consecutive days of outflows and last week's $24.81 million in net redemptions reflect a broader pullback in demand for crypto investment products rather than an isolated shift away from $SOL.
Solana Treasury Companies Take Different Paths
SkyAI confirmed on October 12 that it had recently sold approximately 1 million $SOL, worth more than $106 million at current prices. The sale represents nearly half of its holdings, as the company plans to repurchase up to $201 million in shares and warrants. The confirmation followed $114.87 million in $SOL transfers to exchanges over the weekend.
DeFi Development Corp took the opposite approach, purchasing 22,070 $SOL worth approximately $2.43 million over the past week. The acquisition brought its holdings to 2,586,282 $SOL, valued at around $284.9 million, representing a 12% increase since August 12.
Strategy Adds Bitcoin as Saylor Signals More Purchases
Michael Saylor's Strategy acquired about 250 BTC, worth $21 million, last week and repurchased $192 million in its STRC preferred shares.
The company now holds approximately 848,250 BTC, acquired at an average price of $75,444. Its holdings represent more than 4% of Bitcoin's 21 million supply cap and imply approximately $6.6 billion in unrealized gains at current prices.
Saylor frontran the announcement by posting another Bitcoin acquisition tracker on X on Sunday with the caption, "There's always room for more orange."
As crypto markets enter a consolidation phase after the August and September rally, market participants will do well to monitor upcoming catalysts such as Wednesday’s U.S. inflation data and the midterm elections.
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