Hyperliquid's Top Traders Hit Record Bitcoin Long Positions, Surpassing Levels from Previous Rally to $83,000

Odaily Odaily Planet Daily reported that on-chain analytics firm Glassnode said top traders on decentralized derivatives exchange Hyperliquid are heavily long on Bitcoin, with persistent long positions reaching their highest level since the platform began recording, surpassing the level seen during Bitcoin's previous rally to around $83,000. Glassnode stated that this position indicates strong speculative demand at current price levels. Hyperliquid is a decentralized derivatives exchange where traders can trade perpetual contracts with leverage and no expiry date on-chain. Bitcoin whales on Hyperliquid have recently pushed net long positions to a year-to-date high. Glassnode's weekly report shows that even though Bitcoin prices fell in June, this accumulation continued; Bitcoin has recently regained the $65,000 level.