SOL-USDT fell from $298 to $244 between April 5 21:00 UTC and April 6 04:00 UTC, a 18.1% decline in under 7 hours — perfectly matching the correction pattern warned when funding hit 0.19% on March 28. Over $820M in SOL long positions were liquidated in the cascade, with Bybit accounting for $310M of the total. Funding has now reset from 0.19% back to 0.02% — a healthy normalization.
On-chain data shows smart-money wallets (whale addresses with 100K+ SOL) are buying the dip aggressively, accumulating 2.1M SOL since the drop began. Historical pattern suggests 72–96 hours of consolidation, then a potential retest of previous highs within 10–14 days.