Hyperliquid traders are opening long positions on Bitcoin, expecting the price to rise higher. However, the macro trend shows that Bitcoin is weak after it lost the $66K support and continues to make lower highs since October 2025. But Bitcoin is building momentum below the $66K level, and the market is convinced that it would recover.
Bitcoin futures market skews towards long positions
According to Glassnode, an analytical tool that tracks on-chain activity, the futures market remains skewed towards long positions, even as Bitcoin shows weakness. The market has been persistent at buying the dip, and there is a high chance that a squeeze could be coming.
Bitcoin whales go long despite BTC losing $66K support
It’s not just Hyperliquid traders leaning long on Bitcoin; even whales are going long. As shown in the chart below, Whales vs. Retail Delta, the parameter takes the net position of the whales against the retail and gives a positive value. When the delta value is positive, it means that the whales’ long positions are outnumbering retailers. Currently, the value is at 0.029, and the whales are dominating the market by a slight number.
This comes in the wake of Bitcoin sliding below the $66K level and continuing to make lower highs since October 2025. The question is, why is the market leaning long if Bitcoin is showing weakness? The answer is right there on the Bitcoin charts. As shown in the chart below, Bitcoin is now trading below the $66K support level, which was an important psychological level for the traders.
BTC macro trend looks weak but bullish momentum builds slowly
However, after crashing below this level, the coin is once again mustering the strength and is putting on a show. It is now establishing a new rally, making higher lows. Although it tested the $66K level while building momentum during the new rally, it was rejected. So the bottom line is that although Bitcoin is showing weakness and the macro price action is on a downward trend, it is now building momentum.
This rally that coin has started seems to have convinced many investors. Even the relative strength index, which measures the strength of the coin, is making higher highs and higher lows, showing that the coin is getting stronger.
