HBAR Price Drops 5% Amid ETF Approval Delays Due to Government Shutdown

Hedera Hashgraph's HBAR cryptocurrency declined approximately 5%, falling from $0.22 to $0.21 between October 8-9 as institutional investors grew cautious amid regulatory uncertainty. Trading volatility reached 5.4%, with concentrated selling between 01:00 and 08:00 UTC on October 9 pushing hourly volumes above 100 million tokens. Market analysts identified strong resistance at $0.22 and institutional support near $0.21 as crucial technical levels. The final trading hour saw additional losses of 0.85%, bringing HBAR to $0.212. A brief recovery attempt to $0.215 failed quickly, while trading volume dropped to zero in the closing minutes—indicating either technical issues or complete institutional withdrawal. This selloff reflects broader market concerns as the U.S. government shutdown suspends SEC operations, delaying critical ETF approvals including Canary Capital's HBAR and Litecoin ETF applications. Meanwhile, Bitwise reduced Solana ETF fees and added staking features to remain competitive. Until regulatory clarity emerges, corporate treasuries are expected to maintain conservative digital asset exposure strategies.