[Satoshi Index] 7-Day Top Crypto Traders' Long Share Rises From 7% to 12% Overnight; Zcash (ZEC) Goes From 37 Long and 77 Short to 52 Long and 62 Short While the 24-Hour and 30-Day Groups Stay 90% Short

‘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 8:07 a.m. KST on Oct. 27 (23:07 UTC Oct. 26), about 12% of the position notional held by the top traders by 7-day performance on Hyperliquid, Lighter, dYdX and Pacifica combined is long. Longs total about $396 million and shorts about $3.03 billion, with the top 100 on each exchange counted separately and then summed by asset.

Compared with the previous edition on the evening of Oct. 26 (aggregated at 4:25 p.m. KST that day), the same group's long notional went from about $232 million to $396 million, 1.7 times as much, while shorts fell 6.5% from about $3.24 billion to $3.03 billion. The long share went from 7% to 12%. The two editions are about 16 hours apart.

The top group by 24-hour performance holds about $278 million long and $2.53 billion short, a short share of about 90%. From 89% in the previous edition ($328 million long, $2.58 billion short), longs shrank by $50 million and shorts by $54 million, moving the share by little more than one percentage point.

The 30-day group holds about $366 million long and $3.37 billion short, a short share of about 90%, almost unchanged from 90% in the previous edition ($392 million long, $3.43 billion short). Of the three groups, only the 7-day group moved toward long, and that group's positions show an unrealized gain of about $40 million.

Bitcoin (BTC) is net short in all three windows and little changed from the previous edition. The 24-hour group holds 72 long and 139 short accounts, about $85 million long and $851 million short, a short share of 91%. The 7-day group is 75 long and 162 short (90% short) and the 30-day group 83 long and 159 short (91% short). BTC is at $80,107, down 0.2% from the previous edition.

Ethereum (ETH) is more lopsided: about $724 million short in the 24-hour group (98% short), $868 million in the 7-day group (96%) and $910 million in the 30-day group (88%). The 30-day group's ETH long accounts fell from 68 to 59. ETH positions carry an unrealized gain of about $20 million in each window, the largest gain of any asset this edition.

By asset, the biggest move came in Zcash (ZEC) in the 7-day group. ZEC went from 37 long and 77 short accounts with a 10% long share by notional in the previous edition to 52 long and 62 short, about $80 million long and $183 million short, a 30% long share. The rise in ZEC long notional from about $22 million to $80 million accounts for more than a third of the 7-day group's total long increase. ZEC is at $1,235, up 3.1% over 24 hours, and ZEC positions in the 7-day group show an unrealized gain of about $12 million.

Hyperliquid (HYPE) also changed in the 7-day group, from 50 long and 111 short to 58 long and 82 short. Short notional fell from about $306 million to $211 million and longs grew from about $20 million to $36 million, lifting the long share from 6% to 15%. HYPE positions still carry the largest unrealized loss in every window, about $29 million in the 7-day group and $48 million in the 30-day group. HYPE is at $78.22, up 2.5% over 24 hours. In the other direction, Lighter's LIT in the 24-hour group went from 29 long and 44 short to 22 long and 51 short, with the price down 4.9% at $3.02.

A larger long notional in the 7-day group is hard to read as a call on market direction. The group is re-selected every day on 7-day performance, so when traders holding longs in assets that rose at aggregation time move into the ranking, long notional grows by that much. ZEC and HYPE, the two assets whose long share rose this edition, both gained over the past 24 hours.

The figures also sum only the top-100 positions on four exchanges, so a few large positions can sway the notional split, and holdings on other exchanges or in spot are not counted, leaving any hedging unknown. No top-20 asset leans long by notional in any window; by headcount only Monero (XMR) and BNB in the 24-hour and 7-day groups have more long accounts than short. 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.