Long bias from the largest perpetual traders on Hyperliquid has built steadily through February, March and April, with the position now leaning aggressively long as bitcoin tags $BTC 80,000 and US-Iran talks resume.
Large traders on Hyperliquid have shifted from net short to their most aggressively net-long bitcoin positioning since early March, coinciding with the coin’s climb from the mid-
$60,000s to near $BTC $80,000.This group of holders, which typically runs positions above $10 million, has historically led spot bitcoin moves by days or weeks, and the current long bias aligns with 47 straight days of negative funding rates that leave shorts paying longs.
With U.S. stocks at record highs, oil and Treasury yields easing, any macro-driven breakout could trigger a short squeeze that either richly rewards or rapidly unwinds these Hyperliquid whale longs.
he biggest traders on Hyperliquid have been building a long bitcoin
$BTC $78,084.98 position for two months, and the price chart is starting to break their way.
Glass node data shows whale positioning on Hyperliquid, the on chain perpetual futures exchange, flipped from net short to net long in early March and has stayed long ever since, with the size of the long bias increasing through April.
