When Bulls Turn into Lambs: Solana’s 10,401.3% Liquidation Slaughter 🐑🔥

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The crypto market, a battlefield of hopes and dreams, started the week with a semblance of optimism, as if the sun had decided to grace us with its presence after a long, dark night. Leading cryptocurrencies like BTC, XRP, and our dear SOL were basking in the glow of decent daily gains, a momentary respite from the chaos that often defines this digital realm. However, as the day wore on, the sky darkened once more, and the bulls on SOL found themselves not just facing a storm, but being swept away by a deluge of liquidations.

Data from the ever-watchful Coinglass revealed a grim tale of woe. In a single hour, Solana plummeted into a downtrend so severe, it would make even the most stoic trader question their sanity. The price of SOL, which had dared to touch the heavens at the $200 mark, was now a distant memory, as it tumbled far below that lofty peak.

The liquidation of long positions on Solana was nothing short of a massacre, with traders losing a staggering $3.89 million in just one hour. The irony, of course, is that those who bet against the token’s rise—short traders—lost a mere pittance of $36,660. A 10,401.3% liquidation imbalance, a statistic so absurd it almost seems like a cruel joke played by the market gods. 😂

The early positive trends had rekindled the flickering hopes of investors, but the sudden and brutal shift in price on the evening of July 28th caught many off guard. The liquidation event turned the tables in favor of those who had the foresight—or perhaps the luck—to bet against Solana’s ascent.

This unexpected turn of events has left many wondering if Solana will ever reclaim its one-week high of $200. Market uncertainties loom large, casting shadows over the mixed price actions that continue to plague the broader market.

Solana Rockets 71.76%, But Not a Good Sign

In the midst of the ongoing market turmoil, Solana attempted to break free from its shackles, making several valiant efforts to breach the $200 resistance level. Alas, these attempts were met with relentless selling pressure, and SOL retreated to a more modest $185.11 as of press time, according to CoinMarketCap.

The 71.76% surge in trading volume, which under normal circumstances might be seen as a bullish signal, is this time a harbinger of doom. The increase in volume coincides with a decline in Solana’s market capitalization and value, a clear indication that investors are fleeing the sinking ship, their confidence shaken to the core.

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2025-07-29 06:05