Solana: Ликвидность на грани переосмысления, эксперты предсказывают ценовое восстановление Translation: Solana: Liquidity on the Brink of Rethinking, Experts Predict Price Recovery

Since mid-November, the 30-day ratio of realized profits to losses for Solana has fallen below one. This metric indicates a contraction of liquidity to levels typical of a bear market, as noted by Glassnode.

Analysts from Altcoin Vector referred to this situation as a «complete liquidity reset.» In the past, this signal has often preceded the start of a new cycle and the formation of a local bottom.

If this pattern mirrors the scenario from April, experts believe the price recovery could take about four weeks, beginning in early January.

Wenni Tsai, COO of SynFutures, commented to Decrypt that the decline in metrics is due to loss-taking, a drop in open interest for futures, and the exit of market makers. While the short-term situation remains susceptible to shocks, the long-term outlook appears moderately bullish.

Two factors are providing support to the asset: the outflow of coins from exchanges and the inflow of capital into spot ETFs based on Solana. According to SoSoValue, exchange-traded funds attracted $17.72 million over the past week.

Ryan Li, the chief analyst at Bitget, described the current correction as an opportunity for strategic accumulation. Despite the buying activity, conditions in the derivatives market remain tense.

The total liquidation volume in the crypto market reached $434.94 million in a day. Solana rose by 3.7%, leading to forced position closures amounting to $14.5 million, marking the third highest figure after Bitcoin and Ethereum.

The primary risk is concentrated in long positions. A drop in prices to $129 (down 5.8% from the current price of $137, according to CoinGecko) would trigger liquidations of long positions totaling $500 million. Li noted that such a scenario would help cleanse the market of excessive leverage and create conditions for institutional investments.

In November, DeFi Development Corp. approved changes to Solana’s tokenomics.