Daily reportThursday, 12 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. Seaward Estuary lost a $39.1M BTC long to liquidation at $72.2K (−$5.3M realised).
Whale positions on Hyperliquid: $7.46B, $3.30B long (44%) and $4.16B short (56%). What counts as a whale?
The day’s largest move, replayed
Seaward Estuary lost a $39.1M BTC long to liquidation at $72.2K (−$5.3M realised).
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 BTC (59% of $1.79B in whale positions) and on HYPE (55% of $1.17B). The rest of Hyperliquid leans the other way: 63 against the whales' 26. Tracked whales lost $93M to liquidation in crypto in the last 24 hours, all of it longs.
TradFi
In TradFi, whales lean short on stocks (Tide 41), lean short on indices (Tide 35) and lean short on energy (Tide 29). The clearest lean among the main TradFi markets: Nvidia, 65% short of $181M. Tracked whales lost $114K to liquidation in TradFi in the last 24 hours, all of it shorts.
Around the events
Nebius and Cerebras.
- 13:00 UTCNebius
Third-quarter results before the US open, call at 08:00 New York time. Nebius, newsroom
- 22:00 UTCCerebras
Third-quarter results after the US close, call at 17:00 New York time. Cerebras, press release
Under water
41% of directional whale money is under water.
Over the last 32 daily closes, the share under water ran from 40% 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 $157M of the money near liquidation, shorts $109M.
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
$116M of whale positions liquidated on this day, most of it BTC longs.
- Liquidated
- $116M
- 24 positions · 100% longs
- Busiest hour
- $82M
- 13:00 to 14:00 UTC · 8 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
One cascade liquidated $113M of whale positions.
| Time | Markets | Liquidated | Side |
|---|---|---|---|
| 1 h 51 min | SOXL, DOGE, XRP and 6 more | $113M18 positions | longs |
The cascade12 Nov, 13:08 to 14:59 UTC
$113M of whale longs liquidated from 13:08 to 14:59 UTC
- Markets hit
- 9
- SOXL first, 8 more within 111 minutes
- BTC price
- −1.8%
- in 54 minutes, $72,540 to $71,232
- Positions
- 18
- from 8 whales
- BTC$64.3M
- ETH$26.8M
- SOXL$12.7M
- SOL$5.3M
- DOGE$1.5M
- 4 more markets$2.2M
Each circle: one whale liquidated, sized by its moneyLongShortUTC · Longs below their market’s price line · 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 · 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 · 12 Nov
The largest liquidation · 13:10 UTC
BTC Seaward Estuary lost a $39.1M BTC long to liquidation at $72.2K (−$5.3M realised).
BTC price on this day, UTC
The largest realised loss · 14:41 UTC
BTC Cloudy Spindrift closes its BTC long after 7 days: $15.1M at its largest, −$731K realised over the whole position.
BTC price on this day, UTC
The closing moveThe whale's logBTC exitsProof on Hyperliquid
The largest new position · 18:53 UTC
BTC Silent Tern opens a $27.6M BTC short at $71.7K. Track record 20/100.
BTC price on this day, UTC
The largest flip · 12:12 UTC
BTC Silent Tern flips its $14.6M BTC long to a $669K short (−$79K realised).
BTC price on this day, UTC
Moves of the day the largest of $1M or more, UTC
2,187 whale moves on this day.
- BTCTrims a short
Cold Meridian trims its BTC short by $24.9M to $73.8M over 3 days.
- BTCTrims a short
Night Mast trims its BTC short by $24.8M to $70.7M over 38 hours.
- NVDACloses a long
Arctic Ebb closes its $29M NVDA long at $161.71 after 29 hours (−$2.2M realised).
- BTCAdds to a short
Silent Tern adds $19.9M to its BTC short, now $20.6M. Track record 20/100.
- BTCCloses a long
Western Breaker closes its $23.3M BTC long at $72.8K after 45 hours (−$192K realised).
- BTCLiquidated longLiquidated
Seaward Estuary lost a $39.1M BTC long to liquidation at $72.2K (−$5.3M realised).
- ETHLiquidated longLiquidated
Seaward Estuary lost a $25.6M ETH long to liquidation at $1,977.65 (−$5.5M realised).
- BTCTrims a short
Night Mast trims its BTC short by $20.6M to $48.9M over 13 hours.
- BTCOpens a long
Western Breaker opens a $21.5M BTC long at $71.6K. Track record 27/100.
- BTCTrims a long
Western Breaker trims its BTC long by $18M to $3.6M at $71.8K (+$43K realised).
- BTCOpens a short
Silent Tern opens a $27.6M BTC short at $71.7K. Track record 20/100.
- BTCCloses a long
Western Breaker closes its $21.2M BTC long at $71.6K after 1 hour (−$66K realised).
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As archived at the day's close, Fri, 13 Nov 2026, 00:00 UTC. Not financial advice.