Hyperliquid Liquidations: $30.4M Overnight, 85% Longs, While Whales Sat 54% Short

Hyperliquid liquidations reached about $30.46 million overnight across 11 accounts that each lost more than $1 million, and 84.76% of that total came from longs, according to HuoXing Finance and TradingBeats monitoring reported by KuCoin News. At the same time, the largest wallets on the venue were positioned the other way: Coinglass data cited by ChainCatcher via KuCoin showed whale exposure at 53.71% short. The split matters because it shows who was paying and who was collecting while Bitcoin slid below $77,000.

Hyperliquid liquidations by account: one wallet took 38%

The concentration is the first thing to read. Address 0x4b62 had about $11.49 million liquidated on BTC and ETH positions, roughly 38% of the $30.46 million total, and the same address now shows about $10.01 million of BTC shorts, per the KuCoin News report. A wallet that is still trading size after a forced exit tells you the liquidation did not end its participation, only its previous position.

The rest of the list was altcoin longs. Three HYPE longs lost about $6.12 million, two SOL longs lost $2.47 million and one BTC long lost about $1.07 million. An XPL long opened on October 16 at an average entry of $0.0801 was held for about 18 days before losing $2.77 million of position, with about $768,700 of realized loss.

The NEAR account is the pattern worth remembering. Its $3.10 million long was liquidated, reopened and liquidated again, for a combined $3.77 million and a loss of about $220,300, according to the same report. Re-entering at the same size in a falling market is how a single bad call becomes two liquidation prints on the tape.

Market-wide context: $298 million of liquidations in 12 hours

Hyperliquid was a slice of a broader flush. Coinglass data reported by ChainThink via KuCoin put total crypto liquidations at $298 million over 12 hours, with $271 million from longs and $27.04 million from shorts. That is about 91% long, close to the 85% long share on the Hyperliquid list.

Bitcoin liquidations accounted for $67.80 million of that 12 hour total and Ethereum for $40.35 million. Price did the rest of the explaining: Bitcoin.com News reported BTC falling below $77,000 on Monday with an intraday low of $77,143, and Fortune showed BTC about 8.26% lower than a month earlier.

The takeaway for orderflow traders: when liquidations are 85% to 90% long on both venues at once, the selling is not a single exchange problem. It is crowded positioning being cleared everywhere, which usually shows up as aggressive sell CVD with open interest falling in the same window.

Hyperliquid whales were net short and in profit

The whale book explains why the overnight move was one-sided. Coinglass figures reported by ChainCatcher put total whale positions at $7.522 billion, with $4.04 billion short and $3.482 billion long. Shorts carried about $30.75 million of profit against $6.37 million on the long side.

One address, 0x5b5d, held a 5x cross margin ETH short opened at $2,322.72 with about $5.98 million of unrealized profit, per the same report. That is the counterparty profile to the liquidation list: large accounts sitting short with room, while smaller and mid-size longs were stopped out below them.

A 53.71% short whale book is not an extreme reading by itself. What makes it useful is the pairing with a long-heavy liquidation tape. When the largest accounts are short and green and the forced flow is long, the path of least resistance stays lower until either the whales start covering or the liquidations dry up.

HIP-3 stock perps: dip buyers added $43.8 million of longs

The overnight list was not only crypto. Two HIP-3 accounts appeared on it: 0x40f2 took three partial liquidations on a WTI crude long totaling $1.49 million, and 0xbd69 lost a $566,000 LITE long and a $706,800 SOXL long, about $1.27 million combined, per KuCoin News. Together, the HIP-3 liquidations came to about $2.77 million, around 9% of the total.

That happened while traders were adding to the same trade. TokenPost reported that 26 Hyperliquid accounts increased net long exposure by about $43.8 million across 18 stock-linked contracts, out of 145 stock-related contracts across 10 HIP-3 deployers. Nearly 40% of that capital went into three storage and chip names, even as SOXL fell nearly 15% in 24 hours and several storage and semiconductor contracts dropped close to 9%.

TokenPost did not name the data provider or explain how the monitored set was compiled, so treat the $43.8 million as a directional signal rather than a census. The direction is still clear: fresh longs were stepping into a falling chip complex at the same time older longs in the same complex were being liquidated. That is the setup where the next leg down produces another round of forced selling, or where the dip buyers absorb it and the tape turns.

How to read the next Hyperliquid liquidation wave

Three checks separate a flush that is finished from one that is still running. First, watch whether open interest keeps falling while price stabilizes. A falling OI with flat price means forced exits are ending without new shorts piling in.

Second, watch the whale side. If the $4.04 billion short book starts shrinking while price holds, the largest accounts are taking profit, and that buying can lift price without any new long conviction. If the short book keeps growing into new lows, the move has sponsorship.

Third, check where the repeat offenders are. The NEAR account that got liquidated twice and the stock perp dip buyers are the same behavior on different assets. Clusters of fresh longs sitting just above recent liquidation prints are where the next cascade starts.

Buildix lets you follow the addresses behind these moves on the whale tracker and check CVD, open interest and liquidation levels per market on the screener, so a long-heavy liquidation tape can be read against whether the large accounts are adding or covering.

The overnight numbers say one thing plainly: the forced flow was long, the profitable flow was short, and new longs were still arriving in the weakest corner of the board. Until one of those three changes, the liquidation map is the chart to watch.