bitcoin ·
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.
27 post that the large traders it tracks on Hyperliquid had previously taken long positions near Bitcoin’s bottom before changing direction last week. The firm described the cohort as net short “for the first time since March.”
Its assessment left two possible outcomes open, with the traders either positioning ahead of another decline or facing losses if Bitcoin rebounds and squeezes their shorts. In the post, Glassnode described the previous long trade as well timed but did not frame the latest bearish positioning as a confirmed forecast of lower prices.
The firm’s question concerned whether the traders had anticipated a deeper pullback or would be caught by a recovery. Earlier research from the same analytics company placed substantial leveraged positions above the market.
Reported by crypto.news.
