[Satoshi Index] Top Crypto Traders on Hyperliquid, Lighter, dYdX and Pacifica Cut 24-Hour Long Share to 8% as Bitcoin (BTC) Short Accounts Rise From 165 to 187

‘Satoshi Index’ is a daily series in which Satoshi Note™, a crypto portfolio tracker, analyzes the current positions of top traders using on-chain data. Data refreshes hourly; figures reflect the aggregation time stated in the article. [Editor's note]

As of 8:08 a.m. KST on Nov. 15 (23:08 UTC on Nov. 14), the top 100 traders by 24-hour performance on Hyperliquid, Lighter, dYdX and Pacifica combined hold about $158 million in long positions and $1.733 billion in short positions in crypto perpetual futures, a long share of about 8%. The figure sums each exchange's top 100 by 24-hour performance separately, by asset.

In yesterday evening's aggregation (2:54 p.m. KST on Nov. 14) the same group held about $266 million long and $1.588 billion short, a long share of 14.4%. In the roughly 17 hours since, long notional fell by about $108 million and short notional rose by about $145 million, lowering the long share by 6.1 percentage points. On Hyperliquid prices, comparing 5:41 p.m. KST yesterday with 8:41 a.m. KST today, Bitcoin (BTC) moved from $67,065 to $63,424, down 5.4%, and Ethereum (ETH) from $1,898 to $1,741, down 8.3%.

The 7-day group holds about $178 million long and $1.90 billion short, a long share of 8.6%, up 1.0 percentage point from 7.6% yesterday evening, with short notional about $197 million lower.

The 30-day group holds about $228 million long and $1.88 billion short, a long share of 10.8%, up from 8.7% yesterday evening. Unrealized P&L stands at a gain of about $442 million for the 24-hour group, $498 million for the 7-day group and $489 million for the 30-day group, higher in all three than yesterday evening's $249 million, $358 million and $376 million.

BTC in the 24-hour group has 61 long and 187 short accounts, with fewer long and more short accounts than yesterday evening's 69 long and 165 short. By notional the group holds about $23.8 million long and $627 million short, 96% short. The 7-day group has 65 long and 194 short accounts and holds about $59.9 million long and $729 million short. The 30-day group has 67 long and 195 short accounts.

In the 24-hour group ETH has 62 long and 152 short accounts, up from 59 long and 121 short, so long accounts rose by 3 while short accounts rose by 31. It holds about $50.2 million long and $281 million short, a long share of 15%. In the 7-day group it has 62 long and 163 short accounts, a long share by headcount of 28%, the same as yesterday evening. Unrealized P&L for the 24-hour group is a gain of about $66.5 million.

In the 7-day group Monero (XMR) has 43 long and 42 short accounts, and its long share by headcount rose from 43% yesterday evening to 51%, the largest change among the assets that can be compared with yesterday evening's table. The 24-hour group has 40 long and 37 short accounts and holds about $2.3 million long and $16 million short, a long share of 12.5%. Yesterday evening it held about $13.7 million long and $13.6 million short, almost even. Among the top 20 assets by notional, those with more long than short notional in the 24-hour group went from three yesterday evening (XMR, MON and SPY) to none this morning. XMR's price is down 12.4% over 24 hours.

In the 24-hour group Hyperliquid (HYPE) holds about $7.1 million long and $317 million short, a long share of 2.2%. Yesterday evening the group held about $48.7 million long and $238 million short (17.0%), so long notional is about one-seventh of what it was. Headcount moved from 46 long and 105 short accounts to 39 long and 136 short. The price is down 11.7% over 24 hours.

The groups are re-selected every hour on performance over each window, so when the accounts that make the ranking change, the direction split changes with them. Short-window rankings tend to lift the traders who were on the right side of that window's price moves. With BTC down 6.9% and ETH down 9.5% over 24 hours, the 24-hour group's unrealized gain of about $442 million can be read alongside that selection effect.

The figures also sum only the top-100 positions on four exchanges, so a few large positions can sway the notional split, as BTC's roughly $729 million of short notional in the 7-day group shows, and holdings on other exchanges or in spot are not counted, leaving any hedging unknown. Current positions describe the present, not where the market goes next.

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Disclaimer: This article is provided for informational purposes only, based on public on-chain data, and does not recommend buying or selling any digital asset or any trading direction. The current positions and past performance of top traders do not guarantee future returns. All investment decisions and their consequences rest with the investor.