Leverage positioning among top crypto futures traders is increasingly diverging by asset, with Solana (SOL) standing out for an aggressive concentration in coin-margined longs while Bitcoin (BTC) shows signs of deleveraging and Ethereum (ETH) undergoes a notable reshuffle in collateral preferences. Data tracking the futures activity of leading accounts—often used as a proxy for institutional and whale sentiment—shows BTC’s long exposure shifting away from dollar-margined contracts and taking on a slightly heavier tilt toward coin-backed leverage.
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