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Bitcoin News Update: Hyperliquid Faces Off: $760 Million in Short Positions Against $22 Million in Longs in a High-Stakes Crypto Clash

Bitcoin News Update: Hyperliquid Faces Off: $760 Million in Short Positions Against $22 Million in Longs in a High-Stakes Crypto Clash

Bitget-RWA2025/11/03 05:08
By:Bitget-RWA

- Hyperliquid's Abraxas Capital holds $760M in BTC/ETH/SOL shorts, while a whale secures $16M in BTC/ETH longs. - Abraxas' $50M unrealized gains contrast with the whale's contrarian longs, highlighting market positioning divergence. - HYPE token stagnation below $50 and $180M in hourly liquidations (mostly longs) signal heightened volatility risks. - Platform fees dropped 69% to $11.8M, reflecting reduced liquidity as bear-bull dynamics amplify price swings.

Recent on-chain data reveals that Abraxas Capital, the top short seller on Hyperliquid, has accumulated unrealized profits exceeding $50 million across two wallets, with their total short exposure reaching $760 million. The firm’s assertive short bets on

(BTC), (ETH), and (SOL) have drawn attention as volatility surges in the crypto derivatives sector. This stands in contrast to the approach of the “100% Win Rate” whale, another major participant on the platform, who has locked in $16.08 million in realized profits by taking a series of long positions in and , as reported by .

Abraxas Capital has rapidly expanded its short holdings, with BTC and ETH shorts now at $277 million and $257 million, respectively, while

exposure is $76.5 million. Over just three days, the two addresses increased their combined positions from $480 million to $760 million, capitalizing on brief price rallies to grow their shorts. In contrast, the 100% Win Rate whale has taken the opposite stance, increasing long positions in BTC and ETH during market dips. The whale’s BTC longs now stand at $114 million, ETH longs at $109 million, and there is additional exposure to SOL, based on .

Bitcoin News Update: Hyperliquid Faces Off: $760 Million in Short Positions Against $22 Million in Longs in a High-Stakes Crypto Clash image 0

Conditions on Hyperliquid mirror the broader market’s uncertainty. The platform’s native token, HYPE, has struggled to break above the $50 mark, and technical signals such as the Relative Strength Index (RSI) point to bearish divergence. Both on-chain fees and platform revenue have dropped, with fees falling to $11.84 million and revenue to $10.63 million for the week of October 27–31, down from $34.86 million and $31.10 million earlier in the month. This downturn indicates shrinking liquidity and a lower risk appetite among traders facing turbulent markets, according to an

.

Recent liquidation figures highlight the ongoing battle between bulls and bears. In the last hour, liquidations exceeded $180 million, with long positions making up $178 million of that sum. Short liquidations were only $2.75 million, suggesting that bearish traders are holding firm despite price fluctuations. While Abraxas Capital’s positions are currently protected from immediate liquidation, the liquidation chart indicates that $22.31 million in long positions could be at risk if HYPE falls to $46, according to a

.

The contrasting tactics of Abraxas Capital and the 100% Win Rate whale underscore the differing perspectives within Hyperliquid’s trading community. Abraxas is wagering on further declines in BTC and ETH, while the whale’s bullish longs reflect optimism for a short-term recovery. These opposing moves may intensify price volatility as either side gains traction. For now, Hyperliquid remains a key arena for large-scale trading strategies, with the results likely to shape sentiment across the wider crypto market.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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