Hyperliquid BTC Long Bias Climbs as Whale Conviction Builds

• Hyperliquid data shows BTC positioning flipped from deep shorts to sustained long exposure.
• Santiment says 10–10K BTC wallets added 40,967 coins in two weeks as BTC’s price neared $80K.
• Spot Bitcoin ETFs logged $223.21M inflows, extending positive flows to eight days.

Bitcoin whale positioning has turned more constructive as large traders increase long exposure on Hyperliquid while the token’s price holds near the upper end of its recent range. Glassnode’s Hyperliquid BTC Long/Short Bias chart shows positioning shifting from a deep short bias in early February to sustained net long exposure through March and April.

Source:  X

The move comes as BTC trades near $77,890, after ranging between $78,600 and $77,070 over the past two days. The setup shows stronger positioning, rising whale accumulation, and continued ETF demand, giving the market a clearer breakout framework.

Hyperliquid Long Bias Expands as Whale Conviction Builds

The Glassnode chart shows red short-bias bars dominating early February, when BTC traded near the mid-$60,000 area. That pressure, however, faded through late February before green long-bias bars became more consistent across March and April.

By April, net long exposure had expanded more frequently, with several green spikes rising above 600 BTC in size. The price line also recovered from February lows and moved toward the $75,000 to $80,000 region.

This shift indicates that larger Hyperliquid traders have built more directional exposure as the Bitcoin market moved higher. Still, the chart also shows sharp positioning swings, meaning leverage remains an important risk factor. Essentially, a crowded, long setup may trigger sharp liquidations if BTC reverses

Whale Accumulation Strengthens Bitcoin Breakout Bets

Santiment data added another layer to the positioning picture. The firm reported that wallets holding between 10 and 10,000 BTC, accounting for 68.34% of tracked holdings, added 40,967 coins over the past two weeks, marking a 0.3% rise in collective holdings.

The firm described these wallets as key stakeholders, noting that their activity strengthened while the broader crypto market capitalization rose 15% in April. The data also showed smaller wallets holding less than 0.01 BTC accumulated 46 coins over the same period, a 0.1% increase.

In its assessment, Santiment argued that continued accumulation by larger holders, combined with retail profit-taking, could support a stronger long-term market structure. However, the data mainly points to rising whale confidence as Bitcoin approaches the $80,000 level.

ETF Demand and Levels Set the Next BTC Test

Not to leave out, U.S. spot Bitcoin ETFs recorded $223.21 million in net inflows on April 23, marking the eighth straight day of positive flows. The inflows, led by BlackRock’s IBIT, showed continued institutional demand through regulated products and helped absorb available supply.

Source: SoSoValue

As long as the streak holds, ETF buying may remain a key support for BTC’s price structure, while any reversal in flows could signal weaker demand. Together, the data show whale positioning, accumulation, and ETF flows aligning around a breakout attempt.

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