Traders on the Hyperliquid platform are currently positioned predominantly short on several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE). As of April 1, 2025, Hyperliquid's leaderboard traders hold $618 million in short positions and $308 million in long positions. The most shorted assets by ratio are Hedera (HBAR), Avalanche (AVAX), and Sui (SUI), while the most longed assets include Render (RENDER), Popcat (POPCAT), and Aave (AAVE). Notably, traders have increased their short positions on Dogecoin, reversing a previous trend where they were mostly long. Similarly, Bitcoin and Solana are also seeing increased short positions, although the latter has seen a decrease in the amount of short positions compared to the previous week. The overall market sentiment on Hyperliquid is leaning towards short positions, with the majority of traders in profit on their positions in Bitcoin, Ethereum, Solana, and HYPE.