Top Hyperliquid Whales Bet $3.3 Billion on Short Positions
Whales are influencing the crypto market by predominantly betting on shorts despite a recent bullish trend. Key points include:
- Addresses worth over $50 million on Hyperliquid hold short positions totaling $3.3 billion, compared to long positions at $1.34 billion.
- The global crypto market cap increased by 1.4% in 24 hours, reaching $3.72 trillion.
- Bitcoin trades at $114,700, while Ethereum rose by 2.7% to $3,550.
- Out of 120,000 active Hyperliquid addresses, only 165 made over $1 million in profit, totaling $3.47 billion, with a slightly bearish outlook.
- 81 wallets with a very bearish sentiment are experiencing significant losses due to market gains.
- The fear and greed index is at 52, down from 62 on July 31.
- Recent outflows from BTC and ETH ETFs have added bearish pressure, potentially leading to market corrections.
- Despite this, indicators for a bull market remain stable, supported by ongoing Bitcoin whale accumulation.