[Satoshi Index] Top Crypto Traders on Hyperliquid, Lighter, dYdX and Pacifica Are 81% Long in the 24-Hour Group as Bitcoin Trades Near $76,100

‘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 4:19 p.m. KST on Nov. 7 (07:19 UTC), the top 100 traders by 24-hour performance on Hyperliquid, Lighter, dYdX and Pacifica combined hold about $892 million in long positions and $215 million in short positions in crypto perpetual futures, a long share of about 81%. The figure sums each exchange's top 100 by 24-hour performance separately, by asset.

In this morning's edition (aggregated at 5:54 a.m. KST) the same group held about $748 million long and $246 million short, a long share of 75.3%. In the roughly 10 hours since, long notional rose by about $144 million while short notional fell by about $31 million. On Hyperliquid prices, comparing 8:41 a.m. with 5:41 p.m. on Nov. 7, Bitcoin (BTC) moved from $75,984 to $76,099, up 0.2%, and Ethereum (ETH) from $2,242 to $2,248, up 0.3%. Over 24 hours BTC is up 0.6% and ETH up 0.8%.

The 7-day group holds about $281 million long and $2.78 billion short, a long share of 9.2%, down 1.5 percentage points from 10.7% this morning and about 91% short. The 30-day group holds about $289 million long and $3.08 billion short, a long share of 8.6%, up 1.0 point from 7.6%.

The positioning split by time frame looks the same as this morning: the 24-hour group is 81% long, the 7-day group 91% short and the 30-day group 91% short. Unrealized P&L for the 24-hour group stands at a loss of about $22 million, slightly larger than the roughly $20 million loss this morning, while the 7-day group shows a gain of about $94 million and the 30-day group about $130 million.

BTC in the 24-hour group has 110 long and 73 short accounts, compared with 101 long and 90 short this morning. By notional the group holds about $242 million long and $43 million short, a long share of about 85%. The 7-day group has 79 long and 143 short accounts, a long share by headcount of 36%, up from 35%, and the 30-day group has 76 long and 178 short.

ETH in the 24-hour group has 96 long and 52 short accounts, about $151 million long and $15 million short, a long share of about 91%, against 62 long and 74 short this morning. The 7-day group has 60 long and 112 short accounts, a long share by headcount of 35%, little changed from 36%, and holds about $65 million long and $644 million short. The 30-day group has 53 long and 150 short accounts.

By asset, the 7-day move in XRP was the largest among the top-20 assets checked. This morning it had 23 long and 48 short accounts, a long share of 32% by headcount; in this edition it has 21 long and 55 short, or 28%. In the 7-day group XRP holds about $9.2 million long and $60 million short, so short notional is still larger, but the long share rose from 8.2% to 13.3%. XRP is at $1.18, down 0.9% over 24 hours.

The 7-day group in Zcash (ZEC) has 51 long and 58 short accounts, a long share by headcount of 47%, down from 51% this morning. Its long notional fell from about $73 million to about $11 million, so the long share by notional dropped from 25.8% to 4.6%. In the 24-hour group ZEC has 78 long and 23 short accounts, about $119 million long and $37 million short, a long share of about 76%, and it is at $1,319.35, up 4.3% over 24 hours. Hyperliquid (HYPE) in the 24-hour group has 91 long and 39 short accounts, a long share of about 90%.

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. The 24-hour group in particular can change its membership quickly, so the gap between this morning and this afternoon cannot be read as the same accounts changing positions. Short-window rankings tend to lift the traders who were on the right side of that window's price moves. In this edition BTC and ETH are both up over 24 hours, yet the 24-hour group shows an unrealized loss.

The figures also sum only the top-100 positions on four exchanges, so a few large positions can sway the notional split, as the drop in ZEC's 7-day long notional 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.