Solana Bounces Back Above $73 Amid Weak Spot Demand

Solana has recovered above $73 after rebounding from an intraday low near $70.60, but two market signals question the strength of the move.

A reported drop in Bitfinex long positions and weak spot demand leave SOL vulnerable unless buyers defend support and push through nearby resistance.

The sharp reduction in Bitfinex long positions suggests some leveraged traders have cut their exposure as Solana attempts to hold its latest recovery.

This development adds weight to the caution visible in the earlier SOL/USD chart. Solana rebounded from about $70.60 to above $73, but spot cumulative volume delta remained deeply negative and largely flat.