$BTC
BITCOIN WHALES SHIFT TO BEARISH POSITIONS ON HYPERLIQUID.
Large accounts trading Bitcoin on Hyperliquid moved to a net short position for the first time since March, according to Glassnode data published on October 27.
The shift occurred over the past week, after these traders had maintained long positions they opened near the market lows. Their exposure now reflects a stronger bet on a decline in BTC’s price.
Data reported by Crypto Briefing puts these accounts’ short positions at approximately US$1.33 billion, compared with US$952 million in long positions. The difference leaves them with net bearish exposure of nearly US$377 million.
Bitcoin is trading around US$80,000, a significant level due to the concentration of leveraged positions in the derivatives market.
According to estimates cited in the report, nearly US$3.3 billion in short positions could be at risk of liquidation if the price rises toward US$85,000.
● This presents two scenarios: large traders may be anticipating a further decline, or a BTC rebound could force them to close their short positions, triggering forced buying that pushes the price even higher.
Whale positioning provides insight into the derivatives market, but on its own does not confirm which direction Bitcoin will take.
#crypto #BTC #TradingCommunity #TrendingTopic #news
TRADE HERE 👇
BITCOIN WHALES SHIFT TO BEARISH POSITIONS ON HYPERLIQUID.
Large accounts trading Bitcoin on Hyperliquid moved to a net short position for the first time since March, according to Glassnode data published on October 27.
The shift occurred over the past week, after these traders had maintained long positions they opened near the market lows. Their exposure now reflects a stronger bet on a decline in BTC’s price.
Data reported by Crypto Briefing puts these accounts’ short positions at approximately US$1.33 billion, compared with US$952 million in long positions. The difference leaves them with net bearish exposure of nearly US$377 million.
Bitcoin is trading around US$80,000, a significant level due to the concentration of leveraged positions in the derivatives market.
According to estimates cited in the report, nearly US$3.3 billion in short positions could be at risk of liquidation if the price rises toward US$85,000.
● This presents two scenarios: large traders may be anticipating a further decline, or a BTC rebound could force them to close their short positions, triggering forced buying that pushes the price even higher.
Whale positioning provides insight into the derivatives market, but on its own does not confirm which direction Bitcoin will take.
#crypto #BTC #TradingCommunity #TrendingTopic #news
TRADE HERE 👇
