Despite Solana holding around $70, Bitfinex whales closed massive long positions, triggering over $16 million in long liquidations in early August, 85 times more than short liquidations. Macro conditions are tightening with September Fed rate hike odds reaching 60%, while stablecoin flows turned negative for the third consecutive month in July, signaling declining liquidity. Spot demand remains weak with muted ETF flows, raising the risk of a breakdown below the $70 support level for SOL. These whale exits could signal growing caution among large market players amid uncertain macro backdrop.
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