Conclusion up front: the HYPE liquidation within the last four hours has already reversed direction—shorts account for 94%; but over a day, total long liquidation is still more than four times that of shorts.
HYPE is currently around $88.97. Over the past 24 hours, both Binance and OKX have seen drops of about 0.3% to 0.4%, with a high near $90.0 and a low around $86.1. The price hasn’t made a big jump, yet leveraged positions are changing hands.
In the past four hours of liquidation, $126,000 was cleared, with shorts accounting for $119,000, or 94.4%. People who chased upward to short were squeezed out first; when extended to 24 hours, longs liquidated $1.506 million, shorts $359,000, indicating that the longs left behind from the previous round of sell-off are still being taken out.
Total holdings across the entire network are about $3.35 billion, down 1.7% over the past 24 hours. Hyperliquid accounts for 53.8%, but its holdings have also fallen by 4.4%; Binance holdings have dropped by 8.9%, and deleveraging has been faster. What we’re seeing now looks more like a cooling-off of leverage tides; it doesn’t necessarily mean a one-direction market trend is over.
$HYPE $BTC
Do you think HYPE will first squeeze shorts, or continue to flush longs?
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