Hyperliquid's Top Traders' Bitcoin Long Positions Hit Glassnode Record, Exceeding Levels Seen During the Previous Rally to $83,000

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