Trader Behavior Under Market Sentiment Regimes

Overview

Analysis of Hyperliquid trader behavior and performance under different Bitcoin market sentiment regimes using the Fear & Greed Index.

Data

• Hyperliquid historical trade data
• Bitcoin Fear & Greed Index (daily)

Methodology

• Data cleaning and timestamp alignment
• Sentiment encoding and merge
• Exploratory and behavioral analysis
• Statistical testing
• Trader segmentation via clustering

Key Findings

• Sentiment affects win rates and risk expression more than median profitability
• Risk-taking behavior varies significantly across sentiment regimes
• Traders respond heterogeneously to sentiment shifts

How to Run

Open the notebook and run cells top to bottom.