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