# Solana traders are abandoning ship as futures dry up — short the slide toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/solana-traders-are-abandoning-ship-as-futures-dry-up-short-t--1eb2cc87-b3ca-4af9-ab9c-1c8f67a2f97d

Betting pools tied to Solana's future price have shrunk 30% this month as traders pull out, and the coin is weakening near $80 with analysts eyeing a drop toward $68.

## Idea

When the amount of money in futures contracts tied to an asset drops sharply, it means traders are losing conviction and closing their bets — usually a sign of further weakness ahead. Solana has seen a 30% collapse in these positions during May alone, suggesting the big players have already left. The price is deteriorating toward the $80 level and the next real support doesn't show up until roughly $68. With the broader altcoin market also slumping, there's no catalyst on the horizon to reverse this slide. This looks like a textbook downtrend to bet against.

## Key details

- Symbols: SOL
- Timeframes: H4
- Tags: \#crypto, \#bearish\_momentum, \#altcoins

## Community

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- Views: 0
- Copies: 0
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## News sources

- [Solana open interest drops 30% as altcoins slump: Is $68 SOL next?](https://cointelegraph.com/markets/solana-open-interest-drops-30-as-68-retest-comes-back-into-play) — CoinTelegraph

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