Bitcoin whales turn net short on Hyperliquid for first time since March

Bitcoin whales on Hyperliquid have turned net short for the first time since March, according to Glassnode, reversing their earlier bullish positioning as BTC trades near $80,000. Glassnode says Hyperliquid whales moved from net long to net short last week. The analytics firm has raised both a deeper pullback and a short squeeze as possibilities. Hyperliquid pays funding hourly, with positive rates requiring longs to pay shorts. Earlier Glassnode research placed major liquidation clusters near $85,000 and $87,000. Glassnode said in an Oct. 27 post that the large traders it tracks on Hyperliquid had previously taken long positions near Bitcoin’s bottom before changing direction last week.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.