Here’s the takeaway: SOL fell nearly 4%, yet $3.6 million in shorts were liquidated over four hours—the short sellers who chased the move took the hit first.
The current price is around $108.2. The 24-hour high was $113.08 and the low was $101.57, with losses of about 3.9% on both Binance and OKX. Liquidations over four hours totaled $3.61 million, with shorts accounting for nearly 100%.
The long/short account ratio is about 71.5% to 28.5%, with longs clearly crowded. Open interest across the market fell 3.05% in 24 hours, as leverage is being unwound. Binance’s funding rate is -0.006675%, and OKX’s is -0.004200%. Negative rates mean shorts pay longs, so the cost of chasing shorts has already emerged.
This looks more like a leverage flush than a straightforward bearish signal. Would you wait for confirmation of a rebound, or keep chasing shorts?
$SOL $BTC
View in real time: https://www.coinboss.com/currencies/SOL