Glassnode Says Hyperliquid Whales Turn Net Short on Bitcoin for First Time Since March
Minseung Kang
Summary
- Glassnode said Hyperliquid whales have built net short positions in Bitcoin for the first time since March.
- Glassnode said Bitcoin positions held by Hyperliquid whales shifted from net long last week to net short.
- Glassnode said it remains to be seen whether the latest position shift reflects expectations of further declines or whether the traders will face a short squeeze if prices rebound.
Forecast Trend Report by Period
Hyperliquid whales have built net short positions in Bitcoin for the first time since March.
On Oct. 27, on-chain analytics firm Glassnode wrote on X that Bitcoin positions held by Hyperliquid whales had shifted from net long last week to net short.
The group had previously succeeded in building long positions near Bitcoin price bottoms, Glassnode said. It remains to be seen whether the latest shift is pricing in further declines or whether the traders could face a short squeeze if prices rebound.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.