Whales pump $421M into Solana – So why didn’t SOL’s price move?

Key takeawaysWhy is Solana attracting so much attention right now?Because SOL saw $421 million in net inflows last week, more than any other crypto.Does strong inflow mean Solana’s price will pump right away?Technical signals still show bearish momentum in the short term.Whales are heavily accumulating Solana [SOL], even as most traders remain cautious.Last week alone, SOL attracted $421 million in new investments, more than any other cryptocurrency. While retail investors are stepping back, institutional capital is pouring in.Could this surge in big-money interest trigger a strong price move soon?Solana dodges the outflow trendDigital asset investment products saw $360 million in outflows last week, but Solana moved in the opposite direction.CoinShares data shows SOL pulled in $421.1 million in weekly inflows (the highest among all assets) while Bitcoin [BTC] saw $946 million leave the market, making BTC the main driver of the total outflow count.Source: CoinsharesU.S.-based products were the biggest source of negativity, with $439 million exiting the region. Solana’s inflows were even higher than Ethereum’s [ETH] $57.6 million.This indicates that major investors are reallocating funds from Bitcoin to alternative assets. The surge in inflows is largely driven by new capital entering recently launched Solana ETFs.Rising inflows, softer pricesRecent data shows that Solana ETF inflows remained consistently strong throughout the past week, with two notable spikes of approximately $70 million each. This pushed total ETF net assets above $500 million. But price didn’t follow the same path.SOL hovered near $164 and actually trended slightly lower through the same period.Source: SoSoValueAt the same time, DeFiLlama data shows Solana’s TVL sitting at $10.59 billion, down about 3% in 24 hours. So, perhaps capital is entering via ETFs faster than on-chain markets can reflect.Source: DeFiLlamaBig money is positioning even while retail demand cools.Technicals lean bearishSolana’s daily chart showed price slipping to around $159 at press time, with sellers still in control. EMA lines remained stacked above price, showing continued downside pressure. RSI was close to oversold territory.Capital flows were also negative, with CMF below zero.Source: TradingViewDespite the huge inflows into Solana ETFs, spot traders are not yet reversing the trend. Technicals are telling a different story than the flows: whales are accumulating, but the broader market still hasn’t followed.If the RSI drops further, a short-term relief bounce may occur, but for now, momentum remains weak.