Daily reportWednesday, 4 November 2026at its close, 00:00 UTC
Large whales lean short on crypto and on single stocks.
Whales lean short, unchanged since the previous close, and more of their money is under water. Breezy Sounder is partly liquidated: $6.6M of its BTC short forced out at $80.9K, $11.7M left (−$116K realised).
Whale positions on Hyperliquid: $7.75B, $3.28B long (42%) and $4.46B short (58%). What counts as a whale?
The day’s largest move, replayed
Polar Kraken adds $30.3M to its ETH short, taking it to $40.5M.
How to read this
Shows: the price of the market from two hours before the move to 45 minutes after it, played once.
Read it: The dot is the move, with the whale’s name and money beside it. Shorts stand above the line, longs below it, a liquidation is a ring on the line. The largest move is the one of $1M or more that moved the most money this day.
Won’t show: the whale’s other moves. Its page holds them.
Crypto
Whales lean short on ETH (55% of $1.68B in whale positions) and on BTC (63% of $1.55B). Retail leans the other way: crowd 63 against the whales' 23. Tracked whales lost $24.5M to liquidation in crypto in the last 24 hours, 98% of it shorts.
TradFi
In TradFi whales lean short on stocks (Tide 35), short on energy (Tide 34) and short on indices (Tide 44). The clearest lean among the headline markets: gold, 59% short of $146M. Tracked whales lost $4.1M to liquidation in TradFi in the last 24 hours, 62% of it longs.
Around the events
Circle.
- 13:00 UTCCircle
Third-quarter results, webcast at 08:00 New York time. Circle, pressroom
Under water
58% of directional whale money is under water.
Over the last 32 daily closes, the share under water ran from 46% to 62%.
Money at a loss at the day's closing price, counted like the Tide: directional whales only. Hedges and market makers stay out, because one leg of a hedge is always at a loss.
Near liquidation
Longs hold $60M of the money near liquidation, shorts $69.4M.
Over the last 32 daily closes the total ran from $12.9M to $383M.
Whale money within 5% of its liquidation price, every wallet counted. Longs there would be forced to sell into a fall, shorts to buy into a rise.
Liquidations of the day
$28.6M of whale positions liquidated on this day, most of it BTC shorts.
- Liquidated
- $28.6M
- 26 positions · 89% shorts
- Busiest hour
- $11.7M
- 04:00 to 05:00 UTC · 5 positions
How to read this
Shows: every liquidation of a tracked whale of $100K or more in this UTC day, in the order it happened. Each takes as many tiles as its money.
Read it: A gap edged in green was a long, in red a short. The figures count the same liquidations.
Won’t show: liquidations of smaller accounts, or positions on other exchanges.
Cascades of the day
2 cascades liquidated $23.3M of whale positions.
| Time | Markets | Liquidated | Side |
|---|---|---|---|
| 1 h 39 min | BTC, NET | $15.2M9 positions | mostly shorts |
| 10 min | COIN, BTC, ETH | $8.1M4 positions | shorts |
The largest cascade4 Nov, 04:11 to 05:50 UTC
$15.2M of whale positions liquidated, $11.7M of it within 46 minutes
- Markets hit
- 2
- BTC first, 1 more within 24 minutes
- BTC price
- +1.8%
- in 75 minutes, $76,744 to $78,145
- BTC$13.9M
- NET$1.3M
Each circle: one whale liquidated, sized by its moneyLongShortUTC · Longs below their market’s price line, shorts above · Shaded: the cascade, second by second · Either side: the minutes before and after · every tracked whale liquidation of $100K or more
How to read this
Shows: the price of each market hit hardest, from 30 minutes before the cascade to 10 minutes after. Each circle is one tracked whale liquidation, placed at the second it filled and sized by its value.
Read it: The larger the circle, the larger the position. Circles crowded where a line moves fastest are positions liquidated during that move. The replay shows the two markets with the most money liquidated first, then the rest.
UTC · Longs below their market’s price line, shorts above · Shaded: the cascade, second by second, each known price a step with its dot · A whale’s positions in one market in the same second are one circle. · every tracked whale liquidation of $100K or more
Won’t show: liquidations of smaller accounts, or positions on other exchanges.
4 moves stood out.
Highlights of the day · 4 Nov
The largest liquidation · 15:18 UTC
BTC Breezy Sounder is partly liquidated: $6.6M of its BTC short forced out at $80.9K, $11.7M left (−$116K realised).
BTC price on this day, UTC
The largest realised gain · 16:45 UTC
BTC Iron Rime closes its BTC long after 11 hours: $19.4M at its largest, +$703K realised over the whole position.
BTC price on this day, UTC
The closing moveThe whale's logBTC exitsProof on Hyperliquid
The largest realised loss · 16:54 UTC
WTI Polar Mistral closes its WTI long after 29 hours: $26.3M at its largest, −$2.3M realised over the whole position.
WTI price on this day, UTC
The closing moveThe whale's logWTI exitsProof on Hyperliquid
The largest new position · 15:09 UTC
ETH Polar Kraken adds $30.3M to its ETH short, now $40.5M. Track record 83/100.
ETH price on this day, UTC
Moves of the day the largest of $1M or more, UTC
1,268 whale moves on this day.
- BTCFlips to a long
Polar Kraken flips its $3.3M BTC short to a $19.8M long (+$40K realised).
- BTCCloses a long
Polar Kraken closes its $19.8M BTC long at $75.9K after 1 minute (+$17K realised).
- BTCTrims a long
Cobalt Monsoon trims its BTC long by $23.5M to $15.7M.
- BTCOpens a short
Breezy Sounder opens a $20.6M BTC short at $75.9K. Track record 29/100.
- BTCAdds to a long
Breezy Sounder adds $22.1M to its BTC long, now $24.2M. Track record 34/100.
- BTCCloses a long
Breezy Sounder closes its $24.3M BTC long at $79.2K after 53 minutes (+$279K realised).
- BTCOpens a short
Breezy Sounder opens a $22.3M BTC short at $79.5K. Track record 34/100.
- ETHAdds to a short
Polar Kraken adds $30.3M to its ETH short, now $40.5M. Track record 83/100.
- BTCCloses a short
Silent Tern closes its $22M BTC short at $80.6K after 2 hours (−$49K realised).
- BTCCloses a short
Polar Kraken closes its $21M BTC short at $80.2K after 16 hours (−$147K realised).
- BTCCloses a short
Silent Tern closes its $22.4M BTC short at $80.6K after 4 hours (−$37K realised).
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As archived at the day's close, Thu, 5 Nov 2026, 00:00 UTC. The liquidations and the cases of this day were reconstructed on 10 Nov 2026 from the day's complete record of moves. Not financial advice.