# Traders are abandoning Solana futures in droves — bet on a drop toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/traders-are-abandoning-solana-futures-in-droves-bet-on-a-dro--fe027b46-6516-4739-9aa3-ccc012e6f658

Bullish traders are pulling their bets on Solana in a hurry — futures open interest plunged 30% in May alone. The price is weakening near $80, and analysts think $68 is the next stop if selling continues.

## Idea

When leveraged bulls close their positions en masse, it's usually not a good sign for the price. Solana's futures market saw 30% of all active bets evaporate in May — that's traders literally giving up on a recovery. The price is hovering around $80, a level that has been slipping, and without those bulls stepping back in, there's very little to stop a slide toward $68. Think of it like a store losing 30% of its customers in a month — the trend is clearly going the wrong way.

## Key details

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

## Community

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- Views: 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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