Hyperliquid whales pre-bet on CPI: $760 million flows into crypto and tech, leverage moves first Just browsing Hyperliquid data, I noticed something interesting. The U.S. July CPI hasn’t been released yet, but leverage in the market has already started moving. On Monday, Hyperliquid’s total open interest (OI) was around $10.56 billion; now it’s at $11.325 billion. In just four days, net OI increased by approximately $765 million—a 7.2% rise. Breaking it down further gets even more intriguing: - Crypto assets increased by ~$583 million - HIP-3 increased by ~$183 million Moreover, recent 24-hour position buildup is clearly concentrated in crypto and large-cap tech stocks. ETH rose just 0.7%, yet its OI surged by ~$86.5 million. BTC dipped 0.5%, yet its OI still rose by ~$39.5 million. Even more striking: PLTR, whose stock only climbed 0.4%, saw OI jump 253%—adding ~$29.47 million. META’s OI rose 37%. Even GOOGL, down 3.1%, still showed continued position growth. So I find this market dynamic quite fascinating 😂 Prices barely moved—but leverage kicked off first. Of course, rising OI alone doesn’t equate to pure bullishness, since both long and short positions contribute to OI increases. But it clearly indicates that ahead of the CPI release, capital is already positioning for volatility. Especially with BTC, ETH, and then tech stocks like PLTR, META, and GOOGL—funds aren’t simply betting one way; they’re layering leverage across multiple assets. At this point, I’m less concerned about whether the market is long or short. What I’m really watching is: After CPI is released, which of these pre-built leveraged positions will crack first. Because the real catalyst may not be the CPI number itself. It’ll be the market’s subsequent liquidation of these提前 positioned bets.