Altcoins Face Liquidation Threat

🔴July 2025 has become a record-breaking month for Bitcoin, with its price soaring above $120,000. However, this BTC rally has put significant pressure on altcoins — traders in Solana, XRP, and Hypeliquid now face the risk of large-scale liquidations. Open interest in SOL has reached $7.9 billion, and a drop below $150 could wipe out up to $1 billion in long positions. Additional pressure comes from the withdrawal of 190,000 SOL from FTX.

🔴XRP is in a similar situation: if its price falls below $2.50, as much as $500 million in positions may be liquidated. HYPE is also at risk — a drop below $43 could trigger over $60 million in losses. Overall, the crypto derivatives market appears overheated, with open interest exceeding $187 billion, leaving it especially vulnerable to a correction.