INDICIA Radar — Daily Crypto Derivatives Read

The whales' bitcoin long share jumped to 27.5%

• Since yesterday's morning snapshot bitcoin is up 0.9%, to $81,969, and ether 2.8%, to $2,439. Yesterday at 13:45 UTC bitcoin touched about $79,700 and ether about $2,322, then both bounced into the evening. OKX swaps liquidated $1.2M over the day, 61% of it shorts.
• Bitcoin: the whales' long share across the registry is 27.5% against 22.1% yesterday — the 56th percentile since 10 July, against the 19th. The whole jump comes from one account that wasn't in our registry yesterday: until last evening it traded stock perps on Hyperliquid, and on the evening bounce it opened large leveraged longs in both coins. Without it the share would be about 15% — below yesterday's.
• The whales we also saw yesterday — the constant set of addresses — moved the bitcoin tilt toward short by about $64–78M over the day, mainly by cutting longs.
• The short seller from our investigation came back to the short on that same bounce — for the fourth time. The address that keeps flipping changed sides several times over the day and ended with no positions, in the red.