Data: BTC fell from $107,000 to $85,000 in just 11 days, with Binance's 24-hour Bitcoin long-to-short ratio at 2.67:1

According to on-chain analyst @ai_9684xtpa, Bitcoin dropped from $107,000 to $85,000 in just 11 days, and the market continues to decline. In the past 24 hours, the total liquidation amount in the market reached $1.87 billion, with longs accounting for 87%; the cumulative liquidation scale over the past week has been between $5 billion and $7 billion, with BTC accounting for 40-60%; due to last night's dip, the OI of BTC and ETH has decreased to varying degrees in the past 24 hours, with BTC OI at $58.55 billion and ETH at $32.72 billion.

Contrary to intuitive feelings, longs still dominate the existing OI. Taking Binance BTC data as an example, the long-short account ratio in the past 24 hours is 2.67:1, and the ratio for top traders is as high as 3.38:1; most exchanges maintain a positive funding rate, meaning that longs continue to pay shorts.