Top Trader loracle.hl Sees $23M Loss on Massive HYPE Short Position

Crypto trader loracle.hl has established a short position in HYPE, which has expanded to over $100 million, according to on-chain data. The trade is currently sitting on unrealized losses of more than $23 million, with a liquidation level at $69.49.

The position has come under pressure as Hyperliquid’s native token recorded a sharp gain of over 20% in the past 24 hours, intensifying losses on the large bearish bet.

Source: Lookonchain