Hyperliquid just saw a brutal flush—$177M in $ETH longs got liquidated in ONE hour on Sunday.
Now shorts are in full control. $ETH funding has been negative for 10 straight hours, averaging -18% annualized. Meanwhile $BTC is still sitting at +11% baseline funding.
Since Nov 4:
$ETH: -13.8%
$BTC: -8.4%
The crowded trade just flipped. If you're not watching funding rates right now, you're flying blind.
Now shorts are in full control. $ETH funding has been negative for 10 straight hours, averaging -18% annualized. Meanwhile $BTC is still sitting at +11% baseline funding.
Since Nov 4:
$ETH: -13.8%
$BTC: -8.4%
The crowded trade just flipped. If you're not watching funding rates right now, you're flying blind.
