Bitcoin whales on Hyperliquid push net long positions to 2026 high

Bitcoin whales on Hyperliquid have pushed their net long positions to a new 2026 record, according to Glassnode. 

In a Wednesday X post, Glassnode posted a chart indicating that whales have been aggressively increasing their cumulative long positions in recent weeks. This is a continuation of a trend of whales going long amid a BTC price breakout last month. 

Whale activity on Hyperliquid, the largest onchain perps exchange, is often monitored and used as a sentiment gauge. Total whale positions on Hyperliquid total about $3.5 billion, with long exposure slightly outweighing short exposure.

The reading comes amid a relatively calm period for crypto liquidations across the top derivatives exchanges, with most liquidations concentrated among short positions in the past month.

Bitcoin briefly cracked $82,000 on Wednesday, its highest level in over three months. 

The cryptocurrency also locked in 67 consecutive days of negative 30-day average funding rates, its longest stretch this decade, with some analysts arguing it could indicate a market bottom.

That said, the long/short ratio on Binance is currently around 0.53, with readings below 1 indicating that most accounts on the world’s largest crypto exchange are bearish.