Large transfers themselves do not equal buying or selling.
According to TradingBeats (formerly Hyperinsight) monitoring, BTC is currently trading at about $64,034. In the past 24 hours, it has fallen by about 1.6%. However, the value of open interest contracts on Hyperliquid during the same period increased from about $2.227 billion to $2.483 billion, rising by about $256 million, or 11.5%. Large addresses are applying leverage in both directions. Over the past 24 hours, BTC added new long positions of about $278 million, reduced longs by about $132 million, for a net increase in longs of about $146 million; new short positions were about $286 million, with shorts being covered by about $141 million, resulting in a net increase in shorts of roughly the same amount—about $146 million. The increase in exposure has not formed an obvious one-way directional bias.
Technicals show that BTC’s potential volatility has started to expand. Using a 20-period, 2-standard-deviation calculation, the 1-hour Bollinger Band width widened from about 0.77% (24 hours ago) to 2.50%, an increase of approximately 225.6%, and is at about the 93.5th percentile over the past 7 days. Over the same period, the 4-hour Bollinger Band width rose from 1.61% to 2.32%, expanding by about 44.2%. Price has also moved down to the lower edge of the 4-hour channel. The latest completed 4-hour candlestick closed at $64,127, only about $75 away from the lower Bollinger band around $64,052.
Two high-leverage large orders have become representative of the latest long/short counterparty positions:
0x004e-leading “whale” went long with 1,000.5 BTC at 40x isolated leverage, with a position value of about $64.065 million, an entry average of $64,069.1, and a liquidation price of $61,835—about 3.4% below the current price. It has also placed sell orders to partially reduce exposure: at $64,600 there is about $19.411 million worth of reduce-sell orders, with a plan to trim roughly 30% of the position.
0x8c96-leading whale added 660 BTC to shorts over the past 24 hours. It is currently shorting 1,100 BTC with 20x cross leverage, with a position value of about $70.43.
On direction, I’m more bearish on BTC and a bit bearish on HYPE. Only if key risks are disproven should the assessment need to change.
$BTC $HYPE
According to TradingBeats (formerly Hyperinsight) monitoring, BTC is currently trading at about $64,034. In the past 24 hours, it has fallen by about 1.6%. However, the value of open interest contracts on Hyperliquid during the same period increased from about $2.227 billion to $2.483 billion, rising by about $256 million, or 11.5%. Large addresses are applying leverage in both directions. Over the past 24 hours, BTC added new long positions of about $278 million, reduced longs by about $132 million, for a net increase in longs of about $146 million; new short positions were about $286 million, with shorts being covered by about $141 million, resulting in a net increase in shorts of roughly the same amount—about $146 million. The increase in exposure has not formed an obvious one-way directional bias.
Technicals show that BTC’s potential volatility has started to expand. Using a 20-period, 2-standard-deviation calculation, the 1-hour Bollinger Band width widened from about 0.77% (24 hours ago) to 2.50%, an increase of approximately 225.6%, and is at about the 93.5th percentile over the past 7 days. Over the same period, the 4-hour Bollinger Band width rose from 1.61% to 2.32%, expanding by about 44.2%. Price has also moved down to the lower edge of the 4-hour channel. The latest completed 4-hour candlestick closed at $64,127, only about $75 away from the lower Bollinger band around $64,052.
Two high-leverage large orders have become representative of the latest long/short counterparty positions:
0x004e-leading “whale” went long with 1,000.5 BTC at 40x isolated leverage, with a position value of about $64.065 million, an entry average of $64,069.1, and a liquidation price of $61,835—about 3.4% below the current price. It has also placed sell orders to partially reduce exposure: at $64,600 there is about $19.411 million worth of reduce-sell orders, with a plan to trim roughly 30% of the position.
0x8c96-leading whale added 660 BTC to shorts over the past 24 hours. It is currently shorting 1,100 BTC with 20x cross leverage, with a position value of about $70.43.
On direction, I’m more bearish on BTC and a bit bearish on HYPE. Only if key risks are disproven should the assessment need to change.
$BTC $HYPE