Conclusion first: SOL rose 3.3% that day. What got liquidated mainly were shorts, with a total of $22.08 million wiped out over 24 hours.
Current price is 120.75. The 24-hour high is 122.9, the low is 115.8. Both Binance and OKX gains are capped at around 3.3%.
On the whole network, SOL liquidations totaled 27.35 million, and 81% were long liquidations (shorts being cleared). The largest single short order of 7,500 contracts was liquidated at $123. It was a single trade worth $920,000—almost clearing at the highest point of the day. The top eight single liquidations were all shorts. Binance and OKX absorbed 70% of them.
The market tone has changed in the last hour: the latest hour saw 240,000 liquidations, 99% of which were long positions. Price also pulled back from the 122.9 high to around 120—people who chased the price to enter are starting to get hit.
Open interest is indeed rising: adding 9% in a day to reach $5.39 billion. Liquidation fear hasn’t scared capital away—money is still flowing in.
$SOL $BTC
The shorts are cleared—now the longs will have to hold up. Do you think SOL can still stay above 120?
Check in real time: https://www.coinboss.com/currencies/SOL