According to the latest data from Glassnode, when bitcoin returned to the nearest low, the number of bets in the derivatives market continued to increase. The article links the phenomenon to the growing net multi-head position on Hyperliquid, suggesting that the market is accumulating a possible backlash.
Hyperliquid's number continues to grow.
The report mentions that bitcoin has recently been pressurized in the vicinity of the US$ 62,400 to US$ 63,600 area and is again close to the 200-week average. In contrast to the weak spot prices, the net multi-head trade on the centralized trading platform Hyperliquid continued to rise, reaching a high level during the year.
According to Glassnode, this means that part of the traders continue to hold up as prices fall, rather than opting out. According to this article, the current silo structure is becoming more biased.
It's 59,000 to 67,000 dollars on the chain.
According to the article, over the past 10 days, investors of different sizes have accumulated more than 259,000 BTCs from the spot market between $59,000 and $67,000. This buyout formed around $16 billion of support belts in the area.
- Buying spaces: US$ 59,000 to US$ 67,000
- Cumulative purchase: over 259,000 BTCs
- Support size: about $16 billion
It was also mentioned that the rollback was synchronized with the adjustment of the global stock market, especially the profit-backing of the United States Science and Technology Unit and the AI Concept Unit, which had a drag on the encryption market. However, according to the data on the chain, some of the funds are still being absorbed at a low level.
Futures hold at $31.2 billion.
According to the article, there are no clear signs of panic in centralized exchanges such as Binance and OKX, and the futures market has maintained a total open contract of approximately $31.2 billion. In its own words, this indicates that previously high-risk leverage positions have been partially cleared and that the current positions are more supported by real funds.
Against this background, if Bitcoin can stabilize in the vicinity of the current mean line and there is a small rebound, a emptiness refill may magnify price fluctuations and drive the road retest up and up.
Additional information:The judgement is based mainly on Glassnode data and external interpretation, and the original text does not give a specific absolute value for Hyperliquid multihead position.