Trader Ditches $110M Short—Only for New HYPE Long to Drop $840K

Crypto trader loracle.hl closed out a massive HYPE short position worth more than $110 million on June 3, locking in a $46.46 million loss.

Soon after exiting the trade, he reversed his position and turned bullish, opening a 2x-leveraged long on 82,195 HYPE tokens valued at roughly $5.73 million. That new position is currently in the red, showing an unrealized loss of about $840,000.

Source: Lookonchain