Everyone says Hyperliquid whales turned short. Yesterday the shorts got liquidated
Scoring yesterday's calls
From publication at 03:45 UTC Oct 27 to 02:50 UTC today.
| Call | What happened | Score |
|---|---|---|
| ETH: 0xb15b's 2,345 is hit before 2,280 | Hit 2,345 at 15:20 UTC; 0xb15b was liquidated for $1.93M on the spot. Low was 2,296. | ✓ |
| HYPE leans up: 80.5 first, then below 75 | 80.5 at 17:10 UTC, 82.0 early today. Low 77.05. | ✓ |
| BTC: 81,870 before 78,928, before the Fed decision | 79,489 to 81,281. Neither hit; the decision is tonight. | Pending (rolled over, levels updated) |
| SOL: 98.0 first, then 103 | Third day with neither: 99.12 to 102.0. Withdrawn. | Not scored |
| CoreWeave's Monday low of 51.21 holds through Friday | Low 54.89, now 59.74. | Running |
Both calls that resolved were right. The ETH one was the cleanest: the wallet we named was liquidated at the price we named.
Yesterday in one line
Bitcoin rose 1.0% to 80,889, ETH 1.1% to 2,350, HYPE 3.8% to 81.20, SOL 0.4% to 101.34. Hyperliquid liquidated $18.9M, of which $14.7M were shorts, 3.5 times the longs.
"Whales turned short"
The most-shared story yesterday came from Glassnode: Hyperliquid's large Bitcoin traders turned net short for the first time since March. Crypto Briefing put whale shorts at about $1.33B against about $952M of longs. Crypto Times used a different snapshot and got the same answer.
Glassnode didn't say Bitcoin will fall. Its question was whether these traders are waiting for a deeper pullback, or about to get squeezed.
Yesterday, on-chain, it was the squeeze:
- $14.7M of shorts liquidated against $4.2M of longs. $5.6M of Bitcoin shorts, $4.8M of ETH shorts.
- Among aggressive trades of $100K or more, Bitcoin saw $18.8M of net buying, ETH $8.1M.
- Open interest across the market rose 4.5% to $11.58B.
The worst minute for Bitcoin shorts was 21:31 UTC, as price hit the day's high of 81,281. 0xeb97…2bd9 lost a $1.6M short at 81,223; the account now holds $8,417. In the same minute 0x17f6…612d lost a $783K short.
Some are still adding. 0x01e2…e977 added $20.8M of Bitcoin shorts yesterday at 80,362, at 12x, with liquidation far away at 86,670.
The ETH short we named
0xb15b…dbae has been in these posts for three days: a 25x ETH short, liquidation at 2,345.
- At 15:21 UTC, ETH hit 2,346 and $1.93M of the short was liquidated.
- It didn't cut. At 21:33 UTC ETH reached 2,358 and another $1.55M went.
- $3.48M in total. The $1.25M it deposited on Oct 18 is down to $158K.
It still holds a $6.19M short from 2,357, liquidation 2,368. ETH is at 2,356, 0.5% away. At 02:15 UTC today a trade printed at 2,369, but liquidation runs on the mark price, and it survived again.
The same afternoon, 0xee4a…a58e lost a $1.2M ETH short in the same minute.
The Fed tonight
The Fed announces its rate decision at 18:00 UTC today. A hold is widely expected.
Bitcoin is at 80,866. Between 1% and 1.4% above sit two 40x shorts:
- 0x4b62…57ca: an $18.6M short yesterday, now $31.4M from 80,667, liquidation 81,683.
- 0x92a7…3fea: long two days ago, now short $19.4M, liquidation 81,984.
Together that's $50.8M, both under water. Yesterday's high of 81,281 came within $400 of the first one.
Our call today
Same rules: we make the call, we score it tomorrow, right is right and wrong is wrong. Prices as of 02:50 UTC.
BTC (80,866): range 78,900 to 82,000, leaning up. Within 24 hours of the Fed decision, 0x4b62's 81,683 is hit before 0x2f59's 78,951. (Rolled over, levels updated)
- Why: shorts were liquidated 3.5 times as much as longs yesterday, and big trades were $18.8M net buyers. Two 40x shorts worth $50.8M sit 1% to 1.4% away; if hit, their forced buybacks push price up.
- Against us: the net short Glassnode sees is real. 0xc3ed…00dd is short $32.3M at 30x and 0x01e2 $20.9M. A more hawkish Fed than expected points the other way.
- Below: 0x2f59…d982, a 40x long of $10.7M, liquidation 78,951.
ETH (2,356): 0xb15b's remaining $6.19M short is liquidated before Friday's close (mark price to 2,368).
- Why: it's 0.5% away and hasn't cut after two liquidations. Big ETH trades were $8.1M net buyers yesterday.
- The next large short liquidations are near 2,560. Below, 0x524e…0de0 bought $13.9M yesterday at 10x, liquidation 2,023.
HYPE (81.32): range 78 to 85, leaning up. 84 before Friday's close, then below 78.
- Why: big trades were $3.1M net buyers yesterday, 36% of the flow. There are no large short liquidations within 10% above: no wall, no fuel, so any rise has to be bought.
- 0x2ae2…78ae added $9.7M of longs yesterday at 10x, liquidation 76.28. 0x082e…ca88's $112M 5x long is now up $58.9M.
SOL (101.57): 98.04 is not hit before Friday's close.
- 0x13da…08be's $9.7M 20x long liquidates at 98.04 and is up $98K. SOL hasn't traded below 99 in three days.
Live liquidation maps: BTC · ETH · HYPE · SOL · CRWV. Tap the 🔔 next to a wallet page's title to get a Telegram alert when that wallet moves.
Data: Hyperliquid on-chain trades, liquidations, positions and account history, compiled by CryptoAnimon. "Yesterday" = Oct 27, 2026 (UTC). Positions, liquidation prices and prices as of about 02:50 UTC Oct 28. Wallet P&L from each wallet's Hyperliquid fills. Big trades = aggressive trades of $100K or more, excluding market makers and liquidation backstops. Scoring uses highs and lows from 03:45 UTC Oct 27 to 02:50 UTC Oct 28.
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