SOL Reclaims $100: Shorts Paid $16.7M, Funding Positive
SOL is back above $100, trading near $104.9, up about 6.4% in the past 24 hours. Binance and OKX both show the same range: a 24-hour high of $105.6 and a low of $98.5, which means the dip below the round level and the rebound to a fresh local high happened inside one trading day. The move came as Bitcoin pushed past $80,900 and the market-wide flow flipped from flushing longs to flushing shorts.
Reclaiming $100 after a two-day slide
Two days ago the token slipped under the round $100 level and the squeeze was pointed at longs. That changed fast. Over the last 24 hours it tagged $98.5 on the low side, then ran to $105.6 before settling around $104.9. The rebound tracks the broader tape: 24-hour liquidation data for the whole market shows $533.9M wiped, with shorts paying roughly $464.5M of that total.
Shorts paid $16.7M as the squeeze ran
SOL-specific liquidation data puts the coin at $18.6M in total liquidations over 24 hours, and about 90% of it was short positions, or $16.7M. That is a direct reversal of the September 2 session, when it sat under $100 and longs were the side getting cleared. Shorts that built up during the breakdown became the fuel for the recovery once price reclaimed the round number.
Open interest rotates while funding flips positive
Open interest across SOL perpetuals stands at $4.78B, up 1.26% in 24 hours. The aggregate number hides a rotation underneath. Binance added 4.65% and now holds roughly 19% of total open interest, Bybit is up about 1.4%, while Gate trimmed 3.7% over the same window. Funding rates have turned mildly positive on the major venues, around 0.01% per 8 hours on Binance, Bybit, Gate and Bitget. That sign change matters: during the sub-$100 stretch readings sat near zero or negative, so the move back to positive suggests fresh demand is coming in on the long side instead of shorts rebuilding into the rally.
What the level structure says next
The immediate test is the $105.6 high. If price clears it while open interest keeps climbing, the move has follow-through. If it stalls near that level and OI flattens, most of the squeeze fuel is spent and the market may chop between $100 and $105 while funding cools. Support now sits at the $100 round mark, with the $98.5 low as the deeper line. Funding at 0.01% is positive but not hot, so this reads as a controlled shift in positioning rather than an overheating lever-up.
Data as of Beijing time 2026-09-04 01:35, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major venues; liquidation figures are aggregated 24-hour windows from exchange perp data.