Over the past 24 hours, short positions in Solana (SOL) were squeezed as the token rose to $90, according to market liquidation data.
Solana (SOL) rose to $90, triggering more than $17 million in short liquidations over the past 24 hours. Short liquidations occur when traders betting on a price decline are forced to buy back positions as the market moves higher, adding buying pressure. The move highlights a sharp reversal for leveraged traders in the SOL market.