The "Whale" activity on the Hyperliquid platform has reached a massive $2.9 billion in open interest, and the latest data from Coinglass reveals a market heavily tilted toward the bears.
📊 The Long vs. Short Breakdown
The market is currently split, but the profitability gap is widening:
Shorts in Control: Short positions account for $1.499 billion (51.68%) of the total and are currently sitting on $216 million in gains.
Longs Under Pressure: Long positions total $1.401 billion (48.32%), but the bulls are bleeding, having incurred $108 million in losses so far.
🧨 The $17M Liquidation Risk
The most striking detail comes from a specific whale address (0x6c85..f6). This trader opened a high-stakes 20x leveraged long on Ethereum ($ETH) at an entry price of $2,029.38.
The Current Hit: This single position is facing an unrealized loss of over $858,800.
The Danger Zone: With such high leverage, even a small further dip in ETH could trigger a massive liquidation, adding more fuel to the short-sellers' fire.
💡 Market Sentiment
With shorts dominating the PnL (Profit and Loss) and nearly $1.5 billion bet against the market, the sentiment on Hyperliquid remains decidedly bearish. Traders are watching the $2,000 ETH level closely; if it fails to hold, the "long flush" could become a flood.
💬 YOUR PREDICTION:
Will the $2,029 whale get liquidated, or will we see a massive short squeeze?
1️⃣ Liquidation Imminent! 🌊
2️⃣ The Whale will double down. 🐋
3️⃣ Short Squeeze is coming! 🚀
Drop your pick in the comments! 👇
#Hyperliquid #WhaleAlert #ETH #tradingStrategy #BinanceSquare $ETH