$SOL sits at $91.69, down 0.4% on the board, yet its perp open interest grew about 2% in a day. Leverage is checking in, not checking out.
The details: Binance funding still prints near +0.01% per 8h, roughly 10% annualized, and longs keep paying it. Three quarters of SOL accounts on Binance and Bybit still sit long. CoinGlass put marketwide 24h liquidations near $390M, almost 4x the prior day, and most of SOL's share came from longs.
The card shows the contrast. $SUI is the green one at +1.2%, but its open interest shrank about 1.8% — a bounce without leverage behind it. $HYPE fell harder with OI down 2.7% and $13.7M liquidated — leverage draining under fire. SOL is the odd one: price down, book up.
My read: waiting, leaning cautious. Falling price plus rising OI plus positive funding means longs are adding into weakness, not capitulating. If SOL funding flips negative or OI unwinds on the next red candle, I flip this read to "flush maturing." If the build continues, expect more long pain first.
A falling price with rising open interest is not capitulation — it is leverage signing up for more.
Data as of today. Not financial advice.
Next decisive SOL candle: long squeeze down, or short squeeze up?
$SOL $SUI $HYPE #Solana #Crypto #BinanceSquare #Altcoins
The details: Binance funding still prints near +0.01% per 8h, roughly 10% annualized, and longs keep paying it. Three quarters of SOL accounts on Binance and Bybit still sit long. CoinGlass put marketwide 24h liquidations near $390M, almost 4x the prior day, and most of SOL's share came from longs.
The card shows the contrast. $SUI is the green one at +1.2%, but its open interest shrank about 1.8% — a bounce without leverage behind it. $HYPE fell harder with OI down 2.7% and $13.7M liquidated — leverage draining under fire. SOL is the odd one: price down, book up.
My read: waiting, leaning cautious. Falling price plus rising OI plus positive funding means longs are adding into weakness, not capitulating. If SOL funding flips negative or OI unwinds on the next red candle, I flip this read to "flush maturing." If the build continues, expect more long pain first.
A falling price with rising open interest is not capitulation — it is leverage signing up for more.
Data as of today. Not financial advice.
Next decisive SOL candle: long squeeze down, or short squeeze up?
$SOL $SUI $HYPE #Solana #Crypto #BinanceSquare #Altcoins
