Solana: Realized losses mount amid $160 comes under threat – What now?

Key Points

1. Solana's price has declined 15% in a week, nearing the key $160 support level, with realized losses mounting for average holders.

2. Binance offloaded nearly 110,000 SOL to Wintermute, a move seen as tactical amid a market with extreme retail leverage (91% net long) and subsequent liquidations.

3. On August 1st, Solana recorded $46 million in long liquidations, its largest single-day wipeout since Q1, yet perp funding remains skewed with 78% long dominance on Binance.

4. The $140-$150 range is identified as a critical realized price cluster, potentially acting as a reaccumulation zone if SOL's price drops further.

5. Despite the sell-off, Solana's open interest remains compressed, and funding is still skewed, indicating continued risk-off sentiment unless market conditions shift decisively bullish.