Glassnode Says Hyperliquid Whales Turn Net Short on Bitcoin for First Time Since March
Summary
- Glassnode said Hyperliquid whales have built a Bitcoin (BTC) net short position for the first time since March.
- Glassnode said Hyperliquid whales' Bitcoin positioning flipped from net long last week to net short.
- Glassnode said it remains to be seen whether the latest position shift is front-running further declines or whether they could face a short squeeze if prices rebound.
Forecast Trend Report by Period
Hyperliquid whales have built a net short position in Bitcoin (BTC) for the first time since March.
On Oct. 27, on-chain analytics firm Glassnode wrote on X, formerly Twitter, that Hyperliquid whales' Bitcoin positioning had flipped from net long last week to net short.
The group had previously succeeded in taking long positions near Bitcoin's price bottom, Glassnode said. It remains to be seen whether the latest shift is front-running further downside or whether a price rebound could leave those traders facing a short squeeze.
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