Loracle.hl's Short Position on HYPE Has Lost Over $70 million in the Past 3 Months, with a $549 million Short Position at Risk of Liquidation

BlockBeats News, August 22nd, according to LookIntoChain data, trader loracle.hl has lost over $70 million in the past 3 months trading the Hyperliquid token HYPE.

Currently, loracle.hl holds a short position of 685,744 HYPE, worth around $54.88 million. If the HYPE price rises to $101.15, this short position will be liquidated.

Data shows that loracle.hl has incurred losses multiple times before by shorting HYPE. His massive short position has attracted market attention, and as the HYPE price continues to rise, the short pressure keeps increasing.

Market participants indicate that the recent uptrend of HYPE has intensified the leveraged short risk. If the price continues to break key resistance levels, it may further trigger a cascade liquidation, leading to increased short-term volatility.