HBAR Drops 5% Amid Regulatory Uncertainty and Institutional Selling
Key Points on HBAR Trading Activity:
- The HBAR token dropped from $0.22 to $0.21, a 4.13% decrease, due to institutional caution amid regulatory uncertainty.
- Volatility reached 5.4%, with heavy institutional selling between 01:00 and 08:00 on October 9, pushing volumes over 100 million units per hour.
- Resistance was strong at $0.22, while support appeared near $0.21, defining key technical levels for investors.
- A final hour decline of 0.85% brought the price to $0.212, followed by a failed recovery attempt at $0.215.
- Trading volume dropped to zero in the closing minutes, hinting at possible technical issues or an institutional exit.
- Wider market unease is linked to the U.S. government shutdown affecting SEC operations and delaying ETF approvals. Pending filings include Canary Capital's HBAR and Litecoin ETFs.
- Bitwise has cut Solana ETF fees and added staking options to remain competitive.
- Corporate treasuries are expected to limit digital asset exposure until regulatory clarity is achieved.
