Hyperliquid whales turn net short on Bitcoin for first time since March: Glassnode

Crypto markets are watching the Federal Reserve's policy meeting this week.

Large traders on Hyperliquid have flipped into a net-short position in Bitcoin for the first time since March, according to Glassnode. The group had previously positioned long near the market bottom, but its stance turned bearish last week.

https://twitter.com/glassnode/status/2115068864337781017?s=20

The shift could signal expectations of further downside, though a Bitcoin rebound could leave the traders vulnerable to a short squeeze.

Bitcoin held near $80,000 as its price showed minimal movement over the past day.

The Federal Reserve’s upcoming policy decision is in focus for financial markets, with investors expecting the central bank to keep rates unchanged at 3.75% to 4.00%. Rising inflation and resilient growth could nevertheless increase the prospect of another hike in the coming months.

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