A significant number of traders were liquidated as the price of Bitcoin dropped to $25,300, raising the question of whether it was primarily retail traders who suffered losses. While professional traders are often seen as having an edge in predicting price shifts, they are not immune to financial losses. Margin longs at Bitfinex and OKX were relatively high, indicating a bullish sentiment before the crash. Additionally, futures long-to-short data suggests that professional traders were unprepared for the negative price movement. Overall, it appears that professional traders were caught off guard by the abrupt price crash and did not profit from it.
