HYPE Rally Forces Largest Bear to Retreat: Loracle Liquidates Over $90 Million Short, Still Pursuing Exit Strategy

BlockBeats News, June 2, according to Hyperinsight monitoring, the largest HYPE short seller "Trader Loracle" has been continuously reducing positions and cutting losses since HYPE surged over $70. From yesterday to today, the total reduction has exceeded $90 million. The scale of his 5x leveraged short position has decreased from $102 million to $9.2 million, with current losses still at $3.4 million (-74%). As of the time of writing, he is still placing buy orders. If the liquidation is completed, the loss may exceed $30 million.

During the weekend, Loracle transferred his on-chain 893,000 HYPE tokens to Hyperliquid. With the price increase, the value of this spot position has appreciated from $54.5 million to $65 million and is currently held on the spot side without being sold.

Over the past month, this whale has unlocked a total of 2 times, releasing a total of 1.115 million HYPE tokens (worth around $63.51 million). In a transparent on-chain record, on May 21 (the day HYPE hit a new all-time high), he sold 557,000 HYPE tokens, worth around $33.35 million.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae