Whales are leaning towards BTC Long, SOL shows signs of short-term reversal

Data from Hyperliquid Whale Tracker shows total positions reaching 6.52 billion USD, evenly split between Long (3.25 billion) and Short (3.27 billion). However, the latest activity flow reveals a clear trend:

Whales are heavily buying BTC around the 111k area: opening a Long of 1.13 million USD at 111,113 and continuously adding orders of 1–4 million USD throughout the session. At the same time, they closed a BTC Short of 5.33 million USD at 111,039 – a sign of a short squeeze.

ETH is being polarized: whales just opened a Short of 1.02 million USD at 2,615 and immediately closed the Short at 2,616, while also opening scattered Long positions of nearly 1 million USD. This indicates they are “testing” the equilibrium level of ETH price before determining the next phase.

SOL is somewhat weaker: a large Long position of 5.55 million USD was just closed at 171.85, signaling that whales are taking profits or withdrawing margin at this price point. SOL may need a correction before regaining momentum.

Two indicators supporting the analysis above:

PnL polarization: total Long PnL is 236 million USD while Short PnL is negative 202 million USD – whales are profiting the most from the upward trend.

Funding fee: the Short side is paying 37.7 million USD in fees to the Long side, indicating that cash flow is leaning towards buying positions in the short term.

Personal strategy

For BTC, I prioritize setting Long around 111k, stop at 1%, and take profit at 2–3% when whales force a Short.

For ETH, I will stay out until whales close all Shorts or Longs repeat in a clear cycle.

For SOL, I might test a small Short if H1 closes below 170, then cover at 2–3% profit.

[Personal analysis, not investment advice.]