Glassnode: Hyperliquid long positions continue to rise amid BTC’s downtrend, increasing short squeeze risk

TechFlow News: On June 23, according to a report released by the data analytics platform Glassnode (@glassnode), despite BTC’s price remaining significantly below its all-time high, traders on Hyperliquid continue to increase their long positions, reflecting persistent “buy-the-dip” sentiment throughout the downtrend and steadily building potential for a short squeeze. Meanwhile, altcoin-cycle signals have returned to “Altseason,” with altcoin selling pressure nearing exhaustion—yet BTC remains under downward pressure, and the current market remains BTC-driven.