HBAR Tumbles 5% as Government Shutdown Delays Critical ETF Approvals

Core Insights - HBAR token experienced a decline of nearly 5% from $0.22 to $0.21 between October 8 and 9, reflecting institutional caution amid regulatory uncertainty [1][3] - Trading volatility surged to 5.4%, with significant selling activity observed between 01:00 and 08:00 on October 9, resulting in trading volumes exceeding 100 million units per hour [1][6] - Institutional resistance was noted at the $0.22 price level, while support was established near $0.21, indicating defined risk parameters for corporate treasury management [1][6] Market Dynamics - The selloff is indicative of broader market unease due to the U.S. government shutdown, which has halted SEC operations and delayed ETF approvals [3] - Canary Capital's HBAR and Litecoin ETF filings remain pending, while Bitwise has adjusted Solana ETF fees and added staking to enhance competitiveness [3] - Corporate treasuries are expected to maintain a cautious stance towards digital asset exposure until regulatory clarity is achieved [3] Trading Activity - In the final trading hour, HBAR slipped an additional 0.85% to $0.212, with a failed recovery attempt at $0.215 [2] - Trading volume collapsed to zero in the closing minutes, suggesting either technical issues or a complete institutional retreat [2] - The final trading session saw intraday volatility of 1.26%, exceeding corporate risk tolerance thresholds [6]