Major Bitcoin holders on the decentralized platform Hyperliquid have significantly increased their net long positions, according to analysts at Glassnode.
Whales on Hyperliquid have been longing the breakout of the range. Their conviction and long positioning have steadily increased over the past two months, signaling strong bullish sentiment among big perp players.
— glassnode (@glassnode) April 24, 2026
📊https://t.co/G1mZrpr16c pic.twitter.com/uDuKtMFdWv
Whales have been aggressively betting on the asset's rise for several weeks, a trend that intensified after Bitcoin broke through a resistance level.
According to CoinGlass, the assets of major investors on Hyperliquid have reached $4.43 billion, with $2.2 billion (49.62%) in long positions and $2.23 billion (50.38%) in short positions.
Source: CoinGlass.One major address holds a long position in Ethereum with a 15x leverage at a price of $2265.48, yielding an unrealized profit of $2.88 million.
Source: CoinGlass.On May 6, the price of the first cryptocurrency briefly surged above $82,000, marking a three-month high.
The average 30-day funding rate has remained negative for 67 consecutive days, the longest stretch in a decade. Experts believe this could signal a market bottom.
At Binance, sentiment remains pessimistic, with a long-to-short ratio of 0.53. A value below one indicates that bearish expectations dominate among most users on the platform.
In April, BitMEX co-founder Arthur Hayes predicted that Hyperliquid would lead the prediction market thanks to the HYPE token.
In May, developers of the decentralized exchange activated the HIP-4 protocol on the HyperEVM mainnet, introducing prediction markets as a key feature.