# Solana traders are fleeing as futures collapse 30% — short the slide toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/solana-traders-are-fleeing-as-futures-collapse-30-short-the--a01fc109-1504-436e-aed2-6dda4003e748

Bullish traders are abandoning their Solana positions in droves — the total value of outstanding bets on SOL has plunged 30% this month alone. With the price weakening near $80, analysts are eyeing a drop toward $68.

## Idea

When the total amount of money in futures bets on a cryptocurrency drops 30% in a month, it means traders aren't just taking profits — they're running for the exits. Fewer bullish bets means fewer buyers left to catch the falling price. Solana is now hovering near $80 with very little support underneath, and the $68 level is the next realistic destination. This kind of capitulation in futures markets tends to feed on itself: as more traders get spooked and close positions, the price drops further, which spooks even more traders. It's a classic negative feedback loop.

## Key details

- Symbols: SOL
- Timeframes: H4
- Tags: \#crypto, \#bearish\_breakdown, \#momentum

## Community

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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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