Hyperliquid whales stack Bitcoin shorts to highest level since October 2025

Large accounts on the decentralized perpetuals exchange now hold nearly twice as much in Bitcoin shorts as in longs The biggest traders on Hyperliquid are betting against Bitcoin, and they are doing it with conviction. Whale accounts on the decentralized perpetual futures exchange have pushed their Bitcoin short positions to the highest level since October 2025. These are some of the largest leveraged accounts in on-chain trading, and right now most of their money is leaning one way. The numbers behind the bet As of November 7, 2026, Hyperliquid whales hold between $892 million and $924 million in Bitcoin shorts. On the other side of the ledger, their longs total between $454 million and $483 million. That puts whale shorts at nearly double whale longs. The resulting net short bias is estimated at between $345 million and $470 million, depending on the snapshot used. The largest single whale short is approximately $178.5 million, opened at an entry price around $76,390. Other notable shorts on the platform include positions of $155 million and $101.8 million, plus several more exceeding $60 million each. Bitcoin was trading around $75,800 to $76,000 at the time of the data. How we ...