BTC dropped from 107k to 85k in just 11 days. The market keeps trending downward, so is it the bulls or the bears dominating at this stage? Let’s leave the question to Surf—let the pros handle the professional stuff. Here’s the highlighted conclusion ‍♀️ ▶︎ In the past 24 hours, the total liquidation amount in the market reached $1.87 billion, with 87% coming from long positions. Over the past week, cumulative liquidation ranged between $5-7 billion, with BTC accounting for 40-60%. ▶︎ Due to last night’s dip, BTC and ETH OI (Open Interest) both saw varying degrees of decline in the past 24 hours: BTC OI is at $58.55 billion, and ETH is at $32.72 billion. ▶︎ Contrary to intuition, long positions still dominate the current OI. Taking Binance BTC data as an example, the 24-hour long-to-short account ratio is 2.67:1, and the ratio among top traders is as high as 3.38:1. Most exchanges maintain positive funding rates, meaning longs are still paying shorts. However, Surf also pointed out that "while the number of accounts is still in favor of longs (2.5-3:1), trading volume has shifted to being short-dominated (52%), indicating that institutional funds are starting to short." Full report link (Note: The above data was collected at 09:26 this morning, so there may be some changes now) https://asksurf.ai/share/6369d829-29e2-47db-8a4a-f40c072b1988?r=DLLSZ6ZU1057