Large Bitcoin traders on Hyperliquid are building aggressively bullish positions even as broader derivatives markets remain deeply bearish—creating a setup traders say could fuel a sharp upside squeeze.
On-chain data shows whale positioning flipped from net short to net long in early March and has steadily expanded through April, making it the strongest long bias recorded on the platform.
At the same time, Bitcoin perpetual swap funding remains deeply negative at -0.13%, meaning short sellers are paying longs to maintain positions—one of the longest bearish funding stretches on record.
Historically, this combination of aggressive whale accumulation and crowded short positioning creates powerful squeeze dynamics when spot prices break higher.
With Bitcoin pushing toward $80,000, institutional traders are closely watching whether derivatives pressure could amplify the next major move upward.
Source: X.com
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