Glassnode: Hyperliquid’s top traders lift Bitcoin net longs to a record, topping levels seen near $83,000
AI Market Summary
Glassnode data show Hyperliquid's top traders have pushed Bitcoin perpetuals net longs to a record, exceeding positioning seen near the prior ~$83,000 rally. The build in leveraged onchain long exposure signals strong speculative demand and suggests risk appetite is rebuilding despite June's drawdown. With BTC having recently reclaimed ~$65,000, elevated whale-long concentration may amplify short-term volatility around liquidation and funding dynamics.
Impact level
● Medium
Affected assets
BTC/USDT+0.10%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Odaily Planet Daily reports that on-chain analytics firm Glassnode said leading traders on the decentralized derivatives exchange Hyperliquid have been ramping up Bitcoin long exposure, with sustained long positions rising to the highest level since the firm began tracking the venue. The reading also exceeds positioning seen during Bitcoin’s prior run to around $83,000.
Glassnode said the build-up points to strong speculative demand at current prices. Hyperliquid is a decentralized derivatives exchange that lets traders take on-chain, leveraged perpetual positions with no expiry.
Glassnode added that Bitcoin whales on Hyperliquid have recently pushed net longs to their highest level of the year. In its weekly report, the firm noted that accumulation continued despite Bitcoin’s price decline in June, and that Bitcoin has since regained the $65,000 level.
