According to the latest data from Coinglass, traders are heavily favoring long positions for Solana, indicating growing optimism in the market.
The long/short ratio for SOL/USDT on Binance is 3.07, meaning that for every trader betting on a decline, there are more than three traders betting on a price increase. The ratio is even higher on OKX, reaching 3.62.
This marks growing confidence among both retail and institutional participants. Based on accounts, the long/short ratio is 2.89, and based on positions, it stands at 1.96.
Overall, the 24-hour long/short ratio is 0.95, showing a near-parity between long and short positions. However, exchange-specific data paints a more bullish picture for Solana.
Meanwhile, trading volume in the derivatives market has jumped 35%, reaching $13.87 billion. At the same time, open interest has dropped 7.34%, indicating that some traders may be exiting positions, signaling a sentiment shift or profit-taking behavior.
Options volume has increased nearly 50%, now totaling $1.51 million. However, options open interest has declined by over 22%, suggesting traders are opting for short-term bullish strategies rather than long-term hedges.
Sharp rise in liquidations clears up leveraged positions
Liquidation stats offer additional insights. In the past 24 hours, over $30 million worth of positions were liquidated—of which $26.92 million were long liquidations, while shorts lost only $3.5 million.
At first glance, this appears bearish. However, this could reflect a purge of overleveraged positions before a new upward move.
Short-term intervals (1-hour and 4-hour) revealed more long liquidations, but short liquidations remained low (under $200,000), implying fewer active bearish positions or a retreat from shorts before volatility hit.
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This signals a market shakeout where weak hands are exiting, and stronger, well-capitalized traders are doubling down on long positions. Strong long/short ratios can be seen as an early indicator of short-term bullish momentum for SOL.
This behavior reflects growing confidence in Solana’s resilience, with increased on-chain activity and mounting ETF interest. At the current price range, the setup may present a favorable entry point for both short-term traders and long-term holders.
Meanwhile, Coinbase executive noted that the firm’s new MiCA license is proof that regulatory clarity leads to opportunity in crypto markets.
