# Solana traders are bailing en masse — short SOL as it slides toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/solana-traders-are-bailing-en-masse-short-sol-as-it-slides-t--e2034409-614b-487a-b5e0-53f52979ecf5

Traders are fleeing Solana. The amount of money bet on SOL futures has plunged 30% this month, and the price is weakening near $80. Analysts now think $68 is the next stop if selling continues.

## Idea

When leveraged traders bail out of a crypto asset en masse, it usually means more pain ahead — they're not just selling, they're being forced to sell. Solana's futures open interest collapsed 30% in May, and the price is hovering near $80 with $68 as the next major support level. A 30% exodus from leveraged positions is the kind of washout that can accelerate a move downward, because there are fewer buyers left to catch the falling knife. Meanwhile, broader altcoin weakness and geopolitical uncertainty around oil and the Fed's inflation worries are adding extra weight on risk assets like SOL.

## Key details

- Symbols: SOL
- Timeframes: H4
- Tags: \#crypto, \#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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