Data shows pro traders opened new leveraged long positions even as Bitcoin price dropped to $45,000 and $5.9 billion in futures contracts were liquidated.

In the past 48 hours, Bitcoin's (BTC) price has dropped by $13,360 and more than $2.6 billion worth of futures contracts have been liquidated. When including altcoins, the total sum of liquidations equaled $5.9 billion.

After marking a record-high open interest at $19.5 billion on Feb. 21, the metric has stabilized at $16.5 billion. This means that half of the terminated leverage positions have been reopened.

According to the top traders' long-to-short data and various funding rate indicators, retail traders took the largest hit.