Cryptocurrency liquidations reached 559 million dollars in the last 24 hours, the highest figure since December 20. More than 500 million dollars in long liquidations were recorded.
The main traders on Binance appeared to take advantage of the drop, as more than 63% of them bet on long positions in Bitcoin, compared to 36% who took short positions.
Approximately 555 million dollars in short positions were at risk of liquidation if Bitcoin recovered to 100,000 dollars.
The drop cooled market sentiment, which shifted from 'Extreme Greed' to 'Greed', according to the Crypto Fear & Greed Index.
