Solana's recent price decline has resulted in significant losses for traders who had bet on a price increase. According to Coinglass data, SOL liquidations totaled $5.47 million, with longs accounting for $4.3 million of that amount. This indicates that many traders had anticipated a price rise, but were proven wrong.

The price of SOL had briefly surged to $150 following news of an asset management firm's filing for a Solana spot ETF. However, the cryptocurrency's price soon began to decline, currently trading at $141.96. Despite this, Solana's funding rate remains positive, indicating that traders still expect the price to rise. This discrepancy between the funding rate and price action could negatively impact SOL's value.

Analysis of liquidation levels reveals a lack of liquidity to the upside, suggesting that SOL's price may not increase in the near future. However, there are high levels of liquidity between $138 and $141, indicating that the price may drop to these levels in the short term. This bearish signal could result in further losses for traders who remain long on SOL.

The decline in SOL's price despite positive funding rates suggests a lack of support from spot buyers. If this trend continues, SOL's price may drop below $140. Investors should exercise caution and consider the potential risks before making any decisions.

In conclusion, Solana's price decline has resulted in significant losses for traders who had bet on a price increase. Despite positive funding rates, the lack of support from spot buyers and bearish liquidation levels suggest that SOL's price may continue to decline. Investors should remain cautious and consider the potential risks before making any decisions.