**Largest Whales on Hyperliquid Go Short as Bitcoin Consolidates Around $96,000**
Bitcoin’s recent movement below the crucial $100,000 mark triggered significant shifts in market sentiment, particularly among large traders on Hyperliquid. According to data from Coinglass, the biggest whales — those holding over $50 million in digital assets — have been heavily betting on a further correction in the crypto market by taking substantial short positions.
Currently, there are $4.4 billion in open positions on Hyperliquid’s perpetual exchange, consisting of approximately $1.15 billion in longs and $2.29 billion in shorts. Notably, these whales with over $50 million are the primary group leaning heavily toward a deeper market dip. Conversely, sentiment among smaller traders tells a different story. The data shows that the most bullish participants are “shrimps,” investors with wallets under $250, who tend to have a more optimistic outlook even as whales turn cautious.
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**Bitcoin’s Social Dominance Reflects Growing Retail Panic and FUD**
Bitcoin’s price falling below $95,000 on Friday, November 14, sparked a surge in fear, uncertainty, and doubt (FUD) across the crypto community. Santiment reported via X that Bitcoin’s social dominance—a measure of how much Bitcoin is being discussed relative to other cryptocurrencies—spiked to a four-month high, reaching levels not seen since mid-July.
This sharp increase in Bitcoin’s social dominance was accompanied by a wave of retail panic and negative sentiment. As a result, the leading cryptocurrency saw a price correction from $120,000 down to around $112,000 over just two weeks. Currently, similar sentiments are prevailing, and Santiment has hinted at the possibility of a market reversal.
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**Broader Crypto Market Faces Pressure from Macro and Micro Factors**
One of the drivers behind the recent market-wide correction is the significant outflows from Bitcoin-based exchange-traded funds (ETFs) in the United States. According to Coinspeaker, spot BTC ETFs experienced a net outflow of $1.8 billion last week.
In addition, a Barron’s report highlights how investors are moving away from riskier assets like cryptocurrencies amid concerns over shaky economic conditions and lofty valuations in sectors such as technology and AI stocks.
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**What Does This Mean for Crypto Investors?**
While the current movements and sentiment suggest caution, they do not guarantee a market bottom. Historically, when large whales take positions contrary to the broader market trend amid widespread uncertainty, it might signal that a significant market event is on the horizon.
Investors should remain vigilant, monitor shifts in market sentiment, and consider diverse sources of information before making decisions.
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**Disclaimer:**
Coinspeaker is dedicated to unbiased and transparent reporting. This article is intended to provide accurate and timely information but should not be considered financial or investment advice. Market conditions can change rapidly, so we encourage readers to verify information independently and consult with a financial professional before making investment decisions based on this content.
https://bitcoinethereumnews.com/tech/largest-hyperliquid-whales-are-shorting-amid-wild-market-volatility/
