Hyperliquid Whale Refuses to Close HYPE Short Despite Being Down $22M
A Hyperliquid trader maintains a massive $100 million short position on HYPE despite facing over $22 million in unrealized losses.Summary
A large-scale trader on the Hyperliquid platform is holding a 5x cross-margin short position on HYPE valued at approximately $102.98 million. Despite HYPE's significant 134% year-to-date rally and a resulting $22.18 million unrealized loss, the trader has increased their short exposure. The position faces potential liquidation if the token price reaches $69. Market dynamics, including heavy inflows into US spot HYPE ETFs and significant whale accumulation, have exacerbated the short squeeze, with short sellers accounting for 94% of recent liquidations on the platform. While technical indicators suggest HYPE may be overbought with a potential 20% correction on the horizon, the trader remains exposed to ongoing market volatility.
(Source：Cointelegraph)