[Satoshi Index] Top Traders' 24-Hour Group Raises Long Share to 26%; Longer Groups 89% Short

‘Satoshi Index’ is a daily series by SATOSHI NOTE™ analyzing top traders' current positions using on-chain data. Data updates hourly, and figures reflect the snapshot time stated in the article. [Editor's note]

As of 3:13 p.m. on November 10, traders ranked highest by performance over the past 24 hours across Hyperliquid, Lighter, dYdX and Pacifica held approximately $519 million in long positions and $1.457 billion in short positions, with longs accounting for about 26%. These figures aggregate positions by asset after separately selecting the top 100 traders by 24-hour performance on each exchange.

At 8:02 a.m. today, the same 24-hour group held approximately $479 million in longs and $1.763 billion in shorts, putting the long share at 21.4%. Over roughly seven hours, longs increased by about $40 million and shorts decreased by about $306 million, raising the long share by 4.9 percentage points. Comparing Hyperliquid prices at 8:41 a.m. and 5:41 p.m., Bitcoin (BTC) fell 0.9% from $75,201 to $74,519, while Ethereum (ETH) fell 1.0% from $2,132 to $2,111.

The 7-day group held approximately $323 million in longs and $2.554 billion in shorts, with a long share of 11.2%. That was up 0.9 percentage points from 10.3% this morning, but shorts still accounted for about 89%.

The 30-day group held approximately $310 million in longs and $2.593 billion in shorts, with a long share of 10.7%, almost unchanged from 10.8% in the morning. Unrealized profits were approximately $103 million for the 24-hour group, $198 million for the 7-day group and $204 million for the 30-day group. Compared with the morning, unrealized profits declined for the 24-hour group and increased for the 7-day and 30-day groups.

For BTC, the 24-hour group had 93 traders long and 117 short, similar to the morning's 96 long and 112 short. Long positions totaled approximately $149 million and shorts about $469 million, putting the long share at about 24%. Both amounts fell from approximately $205.7 million in longs and $651 million in shorts in the morning. The 7-day group had 72 traders long and 165 short, with longs accounting for 30% of traders, while the 30-day group had 69 long and 188 short.

For ETH, the 24-hour group had 66 traders long and 96 short, with fewer short traders than the morning's 66 long and 109 short. Long positions totaled approximately $81.2 million and shorts about $274 million, putting the long share at about 23%, roughly double the morning's approximately 11%. The 7-day group had 49 traders long and 138 short, with longs accounting for 26% of traders. Its long positions totaled approximately $40.7 million and shorts about $580 million. The 30-day group had 54 traders long and 159 short.

Among assets that could be compared with the morning table, Monero (XMR) saw the largest change in its 7-day group. XMR had 31 traders long and 33 short in the morning, with longs accounting for 48% of traders. In the latest snapshot, it had 31 long and 40 short, lowering that share to 44%. Long positions totaled approximately $2.5 million and shorts about $36.7 million, putting the long share by value at 6.4%.

For Zcash (ZEC), the 24-hour group shifted from 53 traders long and 46 short in the morning to 44 long and 56 short, giving shorts the lead by trader count. Long positions totaled approximately $16.3 million and shorts about $174 million, with shorts accounting for about 91%. The price fell 5.8% over 24 hours. Among the top 20 assets by position value, only two—Lighter (LIT) and BNB—had larger long positions than short positions in the 24-hour group, compared with three in the morning: NEAR, LIT and kPEPE.

These groups are selected again every hour based on performance over each period, so directional shares can change when the accounts in the rankings change. Short-term rankings favor traders who correctly anticipated price movements during that period. In this snapshot, BTC and ETH had small 24-hour price changes of around 0.3%, and the 24-hour group's unrealized profits were lower than in the morning.

Because the figures aggregate only positions held by the top 100 traders on each of the four exchanges, a few large positions can heavily influence the overall shares by value. The approximately $958 million in BTC shorts held by the 30-day group is one example. Holdings on other exchanges and spot holdings are excluded, so it is also impossible to determine whether positions are hedged. Current positions reflect only the current state and do not indicate future direction.

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Investment notice: This article is for informational purposes, based on public on-chain data, and does not recommend buying or selling any particular crypto asset or taking any investment direction. Top traders' current positions and past performance do not guarantee future returns, and investors bear sole responsibility for all investment decisions.