SOL has dropped to 83, but the data on the contract side is quite interesting.

Taker buy-sell ratio is 4.86 — active buyers are nearly 5 times the sellers. This usually only happens after a sharp decline when bottom-fishing: the price is falling, but someone is aggressively buying the dip.

Large traders' long-short ratio is 1.94, heavily leaning towards long positions. Funding rate is 0.01%, a small fee for longs, but not yet crowded.

Looking at BTC and ETH: BTC funding rate is 0.00535%, Taker ratio is 1.06, neutral leaning slightly bullish; ETH funding rate is negative, Taker ratio is 0.87, clearly bearish.

The three brothers are each moving in their own direction today: BTC is oscillating, ETH is being pushed down by bears, SOL has large traders bottom-fishing.

This 4.86 extreme on SOL is either panic buying after a sharp drop or someone deliberately eating the order book. Combined with the large trader long-short ratio of 1.94, it’s more likely the latter.

But don’t forget: large traders going long does not necessarily mean the price will go up. If the overall market continues weak and 83 cannot hold, all these longs will turn into fuel. $BTC $ETH $SOL