Hyperliquid Whales Boost Bitcoin Shorts to Highest Level Since October 2025

Whale traders on decentralized derivatives exchange Hyperliquid expanded Bitcoin short positions to between $892 million and $924 million, marking their highest level since October 2025. This positioning establishes a net short bias of $345 million to $470 million against $454 million to $483 million in longs, out of $3.13 billion in total Bitcoin perpetual open interest. Across all whale exposure on the platform, shorts accounted for 54.12%, or $3.97 billion of $7.34 billion, generating $79.88 million in unrealized profits while longs logged $27.33 million in losses as Bitcoin traded near $75,800 to $76,000.