Solana Price May Want to Burst the Bears: A Massive Short Opened Blindly! - Coin Bulletin

A large amount of short (kısa) positions taken on Solana (SOL) may trigger an increase in price, leading to more liquidations.

According to the information shared by the on-chain analysis platform Lookonchain, a large investor opened a massive short position on Solana with 20x leverage by making a deposit worth 1.21 million USD Coin (USDC) on the Hyperliquid platform. This position was initiated at $164.9 and reached a total volume of 97,500 SOL, meaning the position's value rose to approximately 16 million dollars. The liquidation price of this large position opened by the investor was determined to be $172.96.

This development has drawn attention in the market. The investor's liquidation price is at a level that the SOL price can only reach with a small increase. This indicates that the price of Solana has serious potential for a significant rise in the short term. If the SOL price rises to 172.96 dollars, the investor's position will be liquidated, and the investor will face a high risk of incurring a major loss.

Opening such a large short position can lead to significant volatility in the market. The bears' move, believing that this position will close and prices will continue to fall, can cause prices to move in the opposite direction, squeezing the bears and creating a short-term upward wave.

This massive short position and potential liquidation could trigger a rapid price increase, especially in an asset like Solana that is closely monitored, and this environment where bears are getting squeezed could result in further liquidation.

According to CoinGecko data, the price of SOL rose above 169 dollars after the whale opened its position. At the time this news was written, it was finding buyers at 166.15 dollars.