Large bitcoin traders on Hyperliquid switched from net long to net short last week, Glassnode said, the first such shift since March, according to crypto.news. The same traders had gone long near bitcoin’s bottom. Glassnode sees two outcomes: they are positioning for a deeper pullback, or they will be squeezed if bitcoin rebounds. The report gives no position sizes for this group.
Glassnode’s October 21 “Swept and Refilled” report maps the levels. The largest modeled liquidation clusters sit around $85,000 and $87,000, the area around $80,000 was cleared on October 15, and a liquidation band remains near $79,600 below the market. Sellers had a large block of spot orders between $86,500 and $87,500. The average cost of coins held by 6-to-12-month buyers is about $86,700, and the True Market Mean is about $77,600. Bitcoin was trading near $80,000.
Earlier whale activity points both ways. Lookonchain tracked 9,458 BTC, about $771.5 million, withdrawn from Wintermute to 40 new wallets since October 1, which it described as accumulation. In September, Onchain Lens linked $126.25 million in Hyperliquid shorts to a Wintermute-linked address, and Wintermute has not confirmed ownership or explained the positions.
Traders also have a busy calendar. The Fed decision is due on October 28, followed by September personal income and advance third-quarter GDP data on October 29 at 8:30 a.m. ET. This is news, not investment advice.
Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!
Sources:
⚠️ RISK WARNING & AI DISCLOSURE
- This information is generated by Artificial Intelligence (AI) and complex algorithms. While advanced, these systems can contain errors or inaccuracies and are for educational purposes only.
- Technical analysis provides no guarantees; this information is purely informative.
- All discussed scenarios are hypothetical and do not constitute predictions or expectations.
- Past performance is not an indicator of future results.
- This is not financial advice and is not intended as a call-to-action for the reader.
- No implicit direction is claimed, and no specific behavior of market participants is suggested.