Over $33M in Solana short positions liquidated as SOL nears $95

Solana bears had a very bad day. More than $33.8 million in SOL short positions were liquidated over the past 24 hours as the token ripped higher toward $95, catching leveraged traders on the wrong side of a move that showed no interest in slowing down. SOL hit approximately $94.14 during the session, reflecting a roughly 5.8% intraday gain. That’s a sharp recovery from around $75 just a week ago, which means traders who opened shorts near the lows got steamrolled by a move of more than 25% in a matter of days. The squeeze in numbers The damage was lopsided. Of the total liquidations in SOL futures, approximately 80.85% were short positions. Long liquidations totaled just $8.01 million. Binance bore the brunt of it, with around $17.9 million in SOL shorts wiped out on the exchange alone. OKX, Hyperliquid, and Bybit absorbed much of the remaining pain. Intraday volatility in SOL exceeded 7% during the session. When clustered short liquidity between $80 and $92 got cleared, the cascade became self-reinforcing: forced buybacks pushed the price higher, which triggered more liquidations, which pushed the price higher still. Part of a much bigger picture Total short liquidations across a...