As bitcoin continues to rise, alternative cryptocurrencies like SOL may experience liquidations and price rallies. Bitcoin has increased by over 6% since briefly dropping below $25,000 on Monday, and positive retail sales and factory output data from China has boosted risk sentiment in financial markets. Altcoins such as XRP, ETH, SOL, TRX, and DOGE are following bitcoin's upward trend, despite traders previously selling these tokens due to the possibility of FTX selling assets from its cryptocurrency holdings. The combination of rising open interest and negative funding rates suggests that traders have recently increased their bearish bets on SOL.
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