BTC: Hyperliquid Stop Orders Within 5% of Price (Observed)

Included with Plus.

USD value of the BTC stop orders the large accounts we track hold on Hyperliquid within 5% of the price: sell stops under it and buy stops over it.

Why use it. Shows which way a modest move would set off more forced trading: stops fire as market orders, so a cluster close to the price can turn a small move into a fast one. How to read it. When the buy-stop line is well above the sell-stop line, a rise of a few percent would trigger more buying than a fall would trigger selling, and the reverse.

Calculation. Sum of size x trigger price over the sell trigger orders with trigger prices from 5% under the mark to the mark, and over the buy trigger orders from the mark to 5% over it (take-profits on the far side are not in either line). Trigger orders are the stop and take-profit orders (market or limit) the large accounts we track hold at Hyperliquid, read from Hyperliquid's public account data: at least every 30 minutes for accounts over $10 million, every 2 hours from $1 million and every 8 hours below, and within minutes after their positions change. Orders read more than 12 hours before a reading are left out. A position take-profit or stop-loss order closes the whole position, so its size is the position's at the reading. Orders waiting on an unfilled parent order are not active and are left out. A side is published only when at least five tracked accounts hold such orders in the coin. Values describe the tracked large accounts only (the large-account charts' coverage applies). Each ten-minute value is the reading at the end of the period; hourly and daily values take the period's last reading, and the open period shows its latest reading as a partial. Trigger orders are read from 8 November 2026; no earlier values are reconstructed. Source: our own reading of Hyperliquid's public account data (each tracked account's open positions and resting trigger orders) for large accounts found in Hyperliquid's public trade stream, collected by CryptoKeyhole every ten minutes; positions are valued at Hyperliquid's mark price at each reading. Large accounts are Hyperliquid accounts holding at least $100,000 of open perpetual positions across all coins at their last reading. We find them in Hyperliquid's public trade stream, which names both accounts of every trade, and read each one's positions from Hyperliquid's public account data. Accounts that have not traded since our collection began are not found, so the values cover only the large accounts we track on this one venue: not all of Hyperliquid and no other exchange (the share of open interest they hold is published as its own chart). Totals also grow as the collection finds more accounts, so read changes in them next to that share. Within the public API's request budget, each account is read again within 3 to 30 minutes after it trades (the largest first) and at least every six hours, and the number of accounts tracked is capped; values can lag an account's newest trades by those intervals. Subaccounts and vaults count as separate accounts.