Solana traders fleeing as futures collapse 30% — short the slide toward $68
Traders are rapidly pulling their bets on Solana, with futures positions dropping 30% in May alone. The price is weakening near $80, and analysts say $68 could be the next stop.
Idea
When a third of all leveraged positions in an asset disappear in a single month, it means traders are giving up en masse — a very bearish signal. Solana's price has been sliding toward $80, and without those leveraged bulls providing support, the path of least resistance is lower. The $68 level was a prior floor and is now acting like a magnet. This kind of capitulation setup often leads to sharp further drops before any meaningful recovery, especially in crypto where momentum tends to overshoot. The one risk is a short squeeze if the US-Iran truce news lifts all risk assets, so a tight stop is essential.