<h2><strong>关键要点</strong></h2>
<h3><strong>为什么 Solana 现在吸引了如此多的关注？</strong></h3>
<p>因为上周 SOL 的净流入达到了 4.21 亿美元，超过了任何其他加密货币。</p>
<h3><strong>强劲的流入是否意味着 Solana 的价格会立即上涨？</strong></h3>
<p>技术信号仍然显示短期内的看跌动能。</p>
<hr/>
<p>鲸鱼们正在大量积累 Solana [SOL]，尽管大多数交易者仍然保持谨慎。</p>
<p>仅上周，SOL 就吸引了 4.21 亿美元的新投资，超过了任何其他加密货币。虽然散户投资者正在退缩，但机构资本正在涌入。</p>
<p>这种大额资金的兴趣激增会很快引发强劲的价格波动吗？</p>
<h2><strong>Solana 避开了流出趋势</strong></h2>
<p>数字资产投资产品上周流出了 3.6 亿美元，但 Solana 却朝相反的方向发展。</p>
<p>CoinShares 的数据表明，SOL 在一周内吸引了 4.211 亿美元的流入（在所有资产中最高），而比特币 [BTC] 则流出了 9.46 亿美元，使 BTC 成为总流出量的主要驱动因素。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-115937.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-115937.jpg"/></p>
<p>来源：Coinshares</p>
<p>美国本土产品是负面情绪的最大来源，流出了 4.39 亿美元。Solana 的流入甚至高于以太坊 [ETH] 的 5760 万美元。</p>
<p>这表明主要投资者正在将资金从比特币重新分配到替代资产。流入的激增主要是由于新资本进入最近推出的 Solana ETF。</p>
<h2><strong>流入增加，价格走软</strong></h2>
<p>最近的数据表明，Solana ETF 的流入在过去一周持续强劲，出现了两次约 7000 万美元的显著激增。这使得 ETF 的净资产总额超过了 5 亿美元。但价格并没有随之上涨。</p>
<p>SOL 在 164 美元附近徘徊，并且在同一时期实际上略微下跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-10.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-10.png"/></p>
<p>来源：SoSoValue</p>
<p>与此同时，DeFiLlama 的数据表明，Solana 的总锁仓价值（TVL）为 105.9 亿美元，在 24 小时内下降了约 3%。因此，资本可能通过 ETF 的方式进入的速度超过了链上市场的反应。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-11.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-11.png"/></p>
<p>来源：DeFiLlama</p>
<p>尽管散户需求降温，但大资金仍在布局。</p>
<h2><strong>技术面偏向看跌</strong></h2>
<p>Solana 的日线图显示，价格在发布时滑落至约 159 美元，卖方仍在控制中。EMA 线仍然堆叠在价格上方，显示出持续的下行压力。RSI 接近超卖区域。</p>
<p>资本流动也呈负面，CMF 低于零。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/6dc343fb-d57b-419f-a11b-82d713f162ee.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/6dc343fb-d57b-419f-a11b-82d713f162ee.png"/></p>
<p>来源：TradingView</p>
<p>尽管 Solana ETF 的流入巨大，但现货交易者尚未逆转趋势。技术面与资金流动的故事不同：鲸鱼在积累，但更广泛的市场仍未跟随。</p>
<p>如果 RSI 进一步下降，可能会出现短期的反弹，但目前动能仍然疲弱。</p>

HSDT

<p>Solana (SOL) 上周吸引了 4.21 亿美元的净流入，成为所有加密货币中最高的，尽管整体市场流出达 3.6 亿美元。机构投资者正在将资金从比特币重新分配到 Solana，受到新 ETF 推出的推动。然而，SOL 的价格仍然停滞不前，徘徊在 164 美元左右，技术信号显示出持续的下行压力。尽管鲸鱼在积累 SOL，但散户需求正在减弱，市场尚未对流入做出积极反应，这表明资本流入与价格走势之间存在脱节</p>

<h2><strong>Key takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><h3><strong>Why is Solana attracting so much attention right now?</strong></h3>
<div class="lb-trans"><h3><strong>为什么 Solana 现在吸引了如此多的关注？</strong></h3>
</div><p>Because SOL saw $421 million in net inflows last week, more than any other crypto.</p>
<div class="lb-trans"><p>因为上周 SOL 的净流入达到了 4.21 亿美元，超过了任何其他加密货币。</p>
</div><h3><strong>Does strong inflow mean Solana’s price will pump right away?</strong></h3>
<div class="lb-trans"><h3><strong>强劲的流入是否意味着 Solana 的价格会立即上涨？</strong></h3>
</div><p>Technical signals still show bearish momentum in the short term.</p>
<div class="lb-trans"><p>技术信号仍然显示短期内的看跌动能。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Whales are heavily accumulating Solana [SOL], even as most traders remain cautious.</p>
<div class="lb-trans"><p>鲸鱼们正在大量积累 Solana [SOL]，尽管大多数交易者仍然保持谨慎。</p>
</div><p>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.</p>
<div class="lb-trans"><p>仅上周，SOL 就吸引了 4.21 亿美元的新投资，超过了任何其他加密货币。虽然散户投资者正在退缩，但机构资本正在涌入。</p>
</div><p>Could this surge in big-money interest trigger a strong price move soon?</p>
<div class="lb-trans"><p>这种大额资金的兴趣激增会很快引发强劲的价格波动吗？</p>
</div><h2><strong>Solana dodges the outflow trend</strong></h2>
<div class="lb-trans"><h2><strong>Solana 避开了流出趋势</strong></h2>
</div><p>Digital asset investment products saw $360 million in outflows last week, but Solana moved in the opposite direction.</p>
<div class="lb-trans"><p>数字资产投资产品上周流出了 3.6 亿美元，但 Solana 却朝相反的方向发展。</p>
</div><p>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.</p>
<div class="lb-trans"><p>CoinShares 的数据表明，SOL 在一周内吸引了 4.211 亿美元的流入（在所有资产中最高），而比特币 [BTC] 则流出了 9.46 亿美元，使 BTC 成为总流出量的主要驱动因素。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-115937.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-115937.jpg"/></p>
<p>Source: Coinshares</p>
<div class="lb-trans"><p>来源：Coinshares</p>
</div><p>U.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.</p>
<div class="lb-trans"><p>美国本土产品是负面情绪的最大来源，流出了 4.39 亿美元。Solana 的流入甚至高于以太坊 [ETH] 的 5760 万美元。</p>
</div><p>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.</p>
<div class="lb-trans"><p>这表明主要投资者正在将资金从比特币重新分配到替代资产。流入的激增主要是由于新资本进入最近推出的 Solana ETF。</p>
</div><h2><strong>Rising inflows, softer prices</strong></h2>
<div class="lb-trans"><h2><strong>流入增加，价格走软</strong></h2>
</div><p>Recent 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.</p>
<div class="lb-trans"><p>最近的数据表明，Solana ETF 的流入在过去一周持续强劲，出现了两次约 7000 万美元的显著激增。这使得 ETF 的净资产总额超过了 5 亿美元。但价格并没有随之上涨。</p>
</div><p>SOL hovered near $164 and actually trended slightly lower through the same period.</p>
<div class="lb-trans"><p>SOL 在 164 美元附近徘徊，并且在同一时期实际上略微下跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-10.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/image-10.png"/></p>
<p>Source: SoSoValue</p>
<div class="lb-trans"><p>来源：SoSoValue</p>
</div><p>At 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.</p>
<div class="lb-trans"><p>与此同时，DeFiLlama 的数据表明，Solana 的总锁仓价值（TVL）为 105.9 亿美元，在 24 小时内下降了约 3%。因此，资本可能通过 ETF 的方式进入的速度超过了链上市场的反应。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/image-11.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/image-11.png"/></p>
<p>Source: DeFiLlama</p>
<div class="lb-trans"><p>来源：DeFiLlama</p>
</div><p>Big money is positioning even while retail demand cools.</p>
<div class="lb-trans"><p>尽管散户需求降温，但大资金仍在布局。</p>
</div><h2><strong>Technicals lean bearish</strong></h2>
<div class="lb-trans"><h2><strong>技术面偏向看跌</strong></h2>
</div><p>Solana’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.</p>
<div class="lb-trans"><p>Solana 的日线图显示，价格在发布时滑落至约 159 美元，卖方仍在控制中。EMA 线仍然堆叠在价格上方，显示出持续的下行压力。RSI 接近超卖区域。</p>
</div><p>Capital flows were also negative, with CMF below zero.</p>
<div class="lb-trans"><p>资本流动也呈负面，CMF 低于零。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/6dc343fb-d57b-419f-a11b-82d713f162ee.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/6dc343fb-d57b-419f-a11b-82d713f162ee.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>Despite 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.</p>
<div class="lb-trans"><p>尽管 Solana ETF 的流入巨大，但现货交易者尚未逆转趋势。技术面与资金流动的故事不同：鲸鱼在积累，但更广泛的市场仍未跟随。</p>
</div><p>If the RSI drops further, a short-term relief bounce may occur, but for now, momentum remains weak.</p>
<div class="lb-trans"><p>如果 RSI 进一步下降，可能会出现短期的反弹，但目前动能仍然疲弱。</p>
</div>

鲸鱼向 Solana 注入了 4.21 亿美元——那么为什么 SOL 的价格没有变化呢？