Key Notes

The largest whales on Hyperliquid are going short as Bitcoin consolidates around $96,000.

Bitcoin’s social dominance signals severe retail panic and FUD.

The broader crypto market is seeing pressure from both macro and micro factors.

Bitcoin’s ( BTC ) fall below the crucial $100,000 mark last week triggered a wave of short positions from massive whales on Hyperliquid.

The largest Hyperliquid whales, with over $50 million in digital assets, have been heavily betting on a further crypto market correction, according to data from Coinglass.

Hyperliquid’s “Leviathans” dominating the market with short positions | Source: Coinglass

Data shows that the so-called Hyperliquid “Leviathans” – referring to a mythical sea monster to illustrate their size – currently have $3.44 billi

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