SOL Outflows Drop 83%, But One Factor Keeps Solana Price in Check

Solana (SOL) entered November still struggling to find a clear direction. The token is down 4% over the past seven days and nearly 19% this month, despite a brief bounce attempt amid Halloween. Solana price now trades near $186, trapped in a range between $178 and $209.

While outflows from holders have slowed, one group of traders might be keeping the SOL price in check.

Big Money Still Missing From the Move

The Chaikin Money Flow (CMF), which tracks whether large investors are adding or exiting positions, has failed to cross back above zero.

Between October 27 and October 31, CMF made a short-lived attempt to turn positive but then turned lower again, showing that large traders continue to move money out of Solana rather than into it.

Until CMF climbs decisively above zero, inflows from big players remain missing, keeping Solana’s upside capped.

Big Money Isn’t Convinced: TradingView

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The newly launched Bitwise Solana Staking ETF (BSOL) drew $132 million in inflows this week, but since most of its exposure is possibly created in-kind (from existing SOL reserves) and managed through staking, those flows haven’t yet translated into real spot market demand.

This could explain why Solana’s Chaikin Money Flow (CMF) remains below zero

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