Solana's Price Plunge Triggers Market-Wide Leveraged Long Flush

Solana's price dropped by 4.07% over a 13-hour period due to a market-wide leveraged long flush, not any Solana-specific news.

The event was driven by a cross-market liquidation that wiped out more than $600 million in leveraged longs across major cryptocurrencies, with Solana being one of the hardest hit altcoins.

Solana's own positioning and chart structure made it vulnerable to this market-wide flush, which pushed its price into a known pocket of over-leveraged longs and clustered stops around the $68 to $70 support band.