The cryptocurrency market has switched bearish over the past 24 hours following the excellent start to the week. Solana’s SOL has extended its correction by losing nearly 3% of its value since Wednesday. At press time, SOL is trading at $82 after being rejected from key resistance the previous day. In addition to that, institutional demand continues to weaken, as SOL spot Exchange Traded Funds recorded an outflow on Wednesday, following the largest single-day withdrawal since their launch. The declining retail demand indicated by weakening derivatives data also suggest further losses in the near term. Institutional demand shows signs of weakness SOL is down by 2.8% in the last 24 hours and is now trading at $82 per coin.
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