Hyperliquid whales short 54.49%, $680 million more than longs

Large-wallet traders on Hyperliquid held $680 million more in short positions than longs as of 11:03 a.m. on July 7, with shorts at 54.49% and longs at 45.51% of tracked exposure. CoinGlass data put total large-wallet positions at $7.573 billion, comprising $3.446 billion in longs and $4.126 billion in shorts, a long-to-short ratio of 0.84. The skew suggests major holders are positioned defensively on HYPE despite the token's recent prominence. The discrepancy between the summed long and short figures and the reported total, about $1 million, reflects rounding or reporting gaps in the CoinGlass aggregation. Traders will watch whether this short-heavy positioning unwinds if HYPE price strength persists, and whether the imbalance triggers volatility through liquidations.