Glassnode said top traders on decentralized derivatives exchange Hyperliquid are building large Bitcoin long positions, with sustained longs reaching the highest level recorded on the platform. The firm said that level has now moved above the one seen during Bitcoin’s previous run to about $83,000. In Glassnode’s reading, the positioning points to strong speculative demand at current prices.
The update also notes that Hyperliquid is a decentralized derivatives venue where traders can transact leveraged perpetual contracts on-chain. According to Glassnode’s weekly report, Bitcoin whales on Hyperliquid recently pushed net longs to the highest level seen this year. The same report said accumulation continued even as Bitcoin fell in June, and that the asset has recently climbed back above $65,000.
Glassnode said top traders on decentralized derivatives exchange Hyperliquid are aggressively long Bitcoin, with sustained long exposure rising to the highest level the firm has recorded on the platform. According to Glassnode, that position now exceeds the level seen during Bitcoin’s previous move to about $83,000.
Glassnode said the positioning shows strong speculative demand at current price levels. Hyperliquid is a decentralized derivatives exchange where traders can trade on-chain perpetual contracts with leverage and no expiry.
In its weekly report, Glassnode also said Bitcoin whales on Hyperliquid recently pushed net longs to a yearly high. The report added that accumulation continued despite Bitcoin’s decline in June, and that Bitcoin has recently returned to above $65,000.
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