What happens next? By Cointelegraph

Roughly $500 million worth of cryptocurrency futures positions were liquidated in the past 24 hours. The mass liquidation of positions happened before the price of (BTC) dipped below $34,000 on Jan. 17.

Overnight, the price of Bitcoin rose by 6.7% from $35,500 to nearly $38,000. Meanwhile, the futures funding rate sharply increased, indicating an overleveraged market.

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