The long positions on Hyperliquid are quietly stacking chips, waiting for a short squeeze.

Wu Shuo learned that, according to Glassnode monitoring, although Bitcoin prices are still well below their previous highs, traders on the Hyperliquid platform are increasingly inclined to go long. Data shows that throughout the downtrend, traders' position distributions have become more bullish, highlighting the persistent dip-buying behavior in the market, while also indicating that the risk of a short squeeze is continuously building up.