The day whales flipped bearish, Bitcoin had just reclaimed $80,000
Glassnode report, Oct. 27: Hyperliquid whales’ BTC positions flipped from net long to net short for the first time since March
Last time, they rode the rally from the bottom and nailed the entry
On the same day they flipped bearish, BTC closed at $80,795, up 0.8%, reclaiming the $80,000 level
Interestingly, Hyperliquid’s own token, HYPE, also rose 4.2% that day to $81.24
Are the bears betting on more downside, or waiting to get squeezed?
Glassnode liquidation map: two clusters of liquidation orders sit overhead at $85,000 and $87,000, while $79,600 is the first line of defense below
My take: whales flipping bearish isn’t a declaration that the market is headed down. Whether it’s a hedge or genuine bearishness depends on whether their positions can hold through the Fed decision in the early hours of tomorrow. The bearish thesis is invalidated if BTC breaks above $85,000 on strong volume
Which side are you on: are the whales right again, or are they about to get squeezed?
$HYPE $BTC $NEAR
#Hyperliquid #Bitcoin
This is not investment advice. DYOR. Trading involves risk.
Glassnode report, Oct. 27: Hyperliquid whales’ BTC positions flipped from net long to net short for the first time since March
Last time, they rode the rally from the bottom and nailed the entry
On the same day they flipped bearish, BTC closed at $80,795, up 0.8%, reclaiming the $80,000 level
Interestingly, Hyperliquid’s own token, HYPE, also rose 4.2% that day to $81.24
Are the bears betting on more downside, or waiting to get squeezed?
Glassnode liquidation map: two clusters of liquidation orders sit overhead at $85,000 and $87,000, while $79,600 is the first line of defense below
My take: whales flipping bearish isn’t a declaration that the market is headed down. Whether it’s a hedge or genuine bearishness depends on whether their positions can hold through the Fed decision in the early hours of tomorrow. The bearish thesis is invalidated if BTC breaks above $85,000 on strong volume
Which side are you on: are the whales right again, or are they about to get squeezed?
$HYPE $BTC $NEAR
#Hyperliquid #Bitcoin
This is not investment advice. DYOR. Trading involves risk.
