Bitcoin whales build long positions as funding stays deeply negative
CoinDesk
Hyperliquid whales are aggressively increasing long positions on Bitcoin, anticipating a potential price surge despite record-long negative funding rates across exchanges.Summary
Data from the on-chain exchange Hyperliquid reveals that large-scale traders have steadily increased their long Bitcoin positions since early March. This strategic pivot, which currently shows the most aggressive long bias in the dataset, often acts as a leading indicator for spot price movements. Concurrently, perpetual swap funding rates have remained deeply negative for 47 consecutive days. This combination of heavy whale long positioning and sustained negative funding suggests a volatile market environment that may be primed for a significant short squeeze if spot prices continue to rise.
(Source：CoinDesk)