This is a big order, and I’m not getting in.

At 3:00 a.m. I made my first move on Hyperliquid: 10x for $BTC and 12x for $ETH , and I shoved the position size all the way up to $43.24 million.

This approach looks fierce, but when you map it onto the order book, it’s not that solid.

$BTC is currently at 78029. It’s only up 0.54% over the past 24 hours. The high is 78330 and the low is 77382. The price is still just bouncing around within a small range—not like it’s steadily charging upward.

Futures volume is $3.66 billion, while spot is only $530 million. The 6.9x ratio is right there—most of the action is happening in leverage.

Funding rates are still positive at 0.0093%, which suggests there aren’t too few people going long.

And at a time like this, looking at the open positions of 108213 BTC pressing down feels like trying to squeeze more people onto an already crowded table.

I’ll admit: big money can sometimes “hold up” better than retail traders. A floating loss of $362,000 might not be a big deal to him.

But if I have to choose a side, I’m standing on the short side. At least right now, I don’t want to keep raising the flag from a position like this.

Do you really think this kind of opening is waiting for takeoff—rather than just gambling with emotions?

$BTC #BTC走势分析 #BinanceSquare

The market flips its mood faster than a book being turned—leave some room in your position.