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Solana traders are fleeing en masse — brace for a drop toward $68
Bets on higher Solana prices are evaporating — futures market interest has plunged 30% in May alone. With the price weakening near $80, traders are bracing for a drop toward $68.
Idea
When traders rapidly pull their bets on a cryptocurrency — in this case, a 30% collapse in Solana's futures open interest during May — it usually means the speculative fuel is gone. Without new buyers stepping in, even modest selling pressure can push the price down quickly. Solana is already sliding toward $80, and the article identifies $68 as the next major floor. The broader crypto market isn't offering a safety net either, with the Fed openly warning that rate hikes aren't off the table — a headwind for riskier assets like altcoins.
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