Bitcoin was trading at about $64,034 on Aug. 11, down roughly 1.6% over the past 24 hours, according to TradingBeats, formerly Hyperinsight. Even with the decline, BTC open interest on Hyperliquid rose from about $2.227 billion to $2.483 billion over the same period, up roughly $256 million, or 11.5%.
Large addresses added leverage on both sides of the market during the past 24 hours. TradingBeats said the fresh exposure did not point to a clear one-way bias. New BTC longs totaled about $278 million, while long reductions reached about $132 million, leaving net long growth of around $146 million. New shorts came in at about $286 million, and short covering totaled about $141 million, also leaving net short growth of about $146 million.
Volatility gauges widened on both the 1-hour and 4-hour charts
Technical readings cited by TradingBeats showed that potential BTC volatility had started to expand. Using a 20-period, 2-standard-deviation Bollinger Band setting, the 1-hour band width widened from about 0.77% 24 hours earlier to 2.50%, an increase of roughly 225.6%. That placed it around the 93.5th percentile of the past seven days.
On the 4-hour chart, Bollinger Band width rose from 1.61% to 2.32% over the same period, an increase of about 44.2%. Price had also moved to the lower edge of the 4-hour channel. The latest completed 4-hour candle closed at $64,127, only about $75 above the lower Bollinger Band near $64,052.
Two whales represent the latest opposing positions
Two large leveraged positions stood out as the latest long-short counterparties in the market.
One whale address beginning with 0x004e opened a 40x isolated long on 1000.5 BTC. The position was worth about $64.065 million, with an average entry price of $64,069.1 and a liquidation price of $61,835, about 3.4% below the current price. The same address had also placed a reduce-only sell order worth about $19.411 million at $64,600, with plans to cut roughly 30% of the position.
Another whale address beginning with 0x8c96 added 660 BTC in shorts over the past 24 hours. It now holds a 20x cross short on 1100 BTC, with position value at about $70.437 million, an average entry price of $64,487.2, and a liquidation price of $66,308.2, about 3.6% above the current price.
TradingBeats added that its on-chain perpetuals and address analysis tool is now live, allowing users to track Hyperliquid data in real time and review whale activity through address tracing.