Solana experienced a significant 111.7% liquidation imbalance on September 27, 2025, following a 4% price increase within 24 hours. This surge resulted in over $15 million in derivatives positions being liquidated. Short traders were hit hardest, incurring losses of $10.48 million, while long positions saw $4.95 million in losses. The imbalance highlights a sharp price reversal that caught many traders off guard, particularly impacting those betting against Solana's price rise.