When I checked Hyperliquid's Wall Street wallet, the position size is over $3.7 billion.

Longs and shorts are almost evenly matched, suggesting a balanced market environment.

However, what’s concerning is that unrealized gains on the long side exceed $45 million, while the short side has an unrealized loss of $65 million.
Especially interesting is the activity of large wallets: they are shorting BTC with 40x leverage, already incurring nearly $5 million in losses.
If such large traders continue to go against the trend, it could signal a market reversal, so it might be interesting to watch their movements alongside forlongs.

Currently, the market is in a stalemate, but the timing when this balance breaks could lead to the next big move.