The market is closed on Saturday, and I haven't finished reviewing yesterday's liquidated orders yet. A total of 1.35 billion was liquidated across the entire network in 24 hours. 92% of these were long positions, with Bitcoin alone accounting for 756 million. At the same time, total open interest dropped by 5.99%. As the price plummeted, total open interest followed suit. The money was liquidated through forced liquidations; no new short positions have entered the market. Retail investors are doing the opposite. Binance's long/short ratio is 3.19, still on the long side. The smart money column shows extremely short positions. They're being liquidated while simultaneously adding to their positions; this round of liquidation hasn't been completely cleared yet. Bitcoin is still trading above 68K. Next week, I'm betting it will drop to 66K; if it doesn't reach that, I'll admit I was wrong.