According to data released by Glassnode, Solana's 30-day average realized profit/loss ratio of (realized profit/loss ratio) has been consistently below 1 since mid-November, which means that more positions are sold at a loss, similar to a bear market environment with shrinking liquidity and market ebb tide. Analysts pointed out that this "liquidity reset" situation has historically been common at the end of large-scale adjustments, which may indicate that the market is close to a phased bottom. If SOL falls to around $129, about $500 million in long positions could be liquidated. （Decrypt）