Bitcoin News Update: Hyperliquid Faces Off: $760 Million in Short Positions Against $22 Million in Longs in a High-Stakes Crypto Clash
- Hyperliquid's Abraxas Capital holds $760M in BTC/ETH/SOL shorts, while a whale secures $16M in BTC/ETH longs. - Abraxas' $50M unrealized gains contrast with the whale's contrarian longs, highlighting market positioning divergence. - HYPE token stagnation below $50 and $180M in hourly liquidations (mostly longs) signal heightened volatility risks. - Platform fees dropped 69% to $11.8M, reflecting reduced liquidity as bear-bull dynamics amplify price swings.
Recent on-chain data reveals that Abraxas Capital, the top short seller on Hyperliquid, has accumulated unrealized profits exceeding $50 million across two wallets, with their total short exposure reaching $760 million. The firm’s assertive short bets on
Abraxas Capital has rapidly expanded its short holdings, with BTC and ETH shorts now at $277 million and $257 million, respectively, while
Conditions on Hyperliquid mirror the broader market’s uncertainty. The platform’s native token, HYPE, has struggled to break above the $50 mark, and technical signals such as the Relative Strength Index (RSI) point to bearish divergence. Both on-chain fees and platform revenue have dropped, with fees falling to $11.84 million and revenue to $10.63 million for the week of October 27–31, down from $34.86 million and $31.10 million earlier in the month. This downturn indicates shrinking liquidity and a lower risk appetite among traders facing turbulent markets, according to an
Recent liquidation figures highlight the ongoing battle between bulls and bears. In the last hour, liquidations exceeded $180 million, with long positions making up $178 million of that sum. Short liquidations were only $2.75 million, suggesting that bearish traders are holding firm despite price fluctuations. While Abraxas Capital’s positions are currently protected from immediate liquidation, the liquidation chart indicates that $22.31 million in long positions could be at risk if HYPE falls to $46, according to a
The contrasting tactics of Abraxas Capital and the 100% Win Rate whale underscore the differing perspectives within Hyperliquid’s trading community. Abraxas is wagering on further declines in BTC and ETH, while the whale’s bullish longs reflect optimism for a short-term recovery. These opposing moves may intensify price volatility as either side gains traction. For now, Hyperliquid remains a key arena for large-scale trading strategies, with the results likely to shape sentiment across the wider crypto market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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