$1.2B Bet Against Solana: Traders Slam the Brakes as Price Tanks
Solana's rally hits a wall—short sellers just piled in with a record $1.2 billion bearish bet. Is this a temporary pullback or the start of a deeper correction?
Blood in the water? The so-called 'ETH killer' now faces its steepest drop since June, with derivatives traders flipping bearish at levels not seen since the FTX collapse. Cue the 'I told you so' from Bitcoin maxis.
Meanwhile, leveraged positions are getting liquidated faster than a crypto VC's morals during a bear market. The network's speed? Still blazing. The trader sentiment? Suddenly frosty.
Funny how a 10% dip makes everyone forget about 'institutional adoption' and 'Web3 scale'—until the next pump, anyway. Welcome to crypto, where fundamentals are optional but leverage is mandatory.
