- Glassnode mentioned Bitcoin is buying and selling under its peak, however Hyperliquid merchants are rising their lengthy positions.
- It mentioned that regardless of the current downtrend, market individuals have continued shopping for the dip, pushing positioning steadily in a extra bullish route.
- Glassnode mentioned the present market construction displays persistent dip-buying sentiment, together with rising quick squeeze threat from one-sided positioning and continued bets on Bitcoin’s long-term upside.
Forecast Development Report by Interval
Bitcoin (BTC) continues to be buying and selling under its peak, however bullish bets amongst Hyperliquid (HYPE) merchants are persevering with to develop, in response to an evaluation.
Glassnode wrote on X on June 23 that Hyperliquid merchants had been more and more leaning lengthy though Bitcoin has retreated sharply from its excessive.
The on-chain analytics agency mentioned market positioning saved shifting in a bullish route even because the current downtrend endured. That means buyers are treating the worth correction as a shopping for alternative and actively shopping for the dip.
The present market construction displays persistent dip-buying sentiment, Glassnode mentioned. It added that the percentages of a brief squeeze are additionally rising as positions change into more and more crowded on one aspect.
Glassnode added that buyers are nonetheless betting on Bitcoin’s long-term upside.
