Under the influence of the meme coin turmoil, the long and short positions of SOL in the futures market have sharply decreased, indicating a bearish shift in the market

ChainCatcher news, according to Cointelegraph, as the meme coin scandals continue to rise, market sentiment has declined, and traders are increasingly preparing for a drop in SOL. According to data from the data service Coinalyze, on February 17, the long-to-short ratio for SOL on cryptocurrency futures exchanges fell from 4 to 2.5, indicating that the overall market is leaning bearish on SOL.

Anonymous crypto KOL Tyler Durden posted on X, stating: "The market has decided to vent its anger on Solana." Durden cited data from Binance's perpetual futures trading platform, indicating that Binance's SOL short-to-long position ratio has risen to 4:1, suggesting an excessive bearish bet.