Solana futures collapsing as traders flee — brace for more downside
Bets on Solana's price going up have collapsed by 30% this month as traders abandon the cryptocurrency. With the price weakening near $80, analysts say $68 is the next likely stop.
Idea
When futures bets on a cryptocurrency drop 30% in a single month, it means leveraged traders are giving up en masse — they're closing positions and walking away. That kind of exodus usually leads to more selling, not a rebound, because there's less buying pressure to hold the price up. Solana is now hovering around $80 with analysts pointing to $68 as the next support level. Until we see a wave of new buyers step in, the path of least resistance is downward. This is a classic case where the crowd has already voted with its feet — and they're heading for the exits.