The unlock supply of $HYPE coins is being gobbled up by buy orders!
On-chain's biggest short seller of $HYPE , Loracle, was once one of the largest bulls of HYPE. Then, in late April, he flipped to shorting. After HYPE broke new highs in May, he began to gradually unlock and sell his staked HYPE.
The market had previously anticipated that he would dump after unlocking $50.8 million.
Today, he did just that, but he didn’t dump it all at once.
He transferred about 890,000 HYPE to Hyperliquid and applied to redeem another 700,000 HYPE. This indicates that the selling pressure may last for several days.
However, the market remains very strong, with bulls consuming his supply, and his short position is now facing a loss of over $30 million, with the liquidation price rising from 89 to 91.25 due to margin calls.
What if the “biggest short” decides to close his position and admit his mistake next? What will happen to $HYPE ? #hype #币圈巴菲特
On-chain's biggest short seller of $HYPE , Loracle, was once one of the largest bulls of HYPE. Then, in late April, he flipped to shorting. After HYPE broke new highs in May, he began to gradually unlock and sell his staked HYPE.
The market had previously anticipated that he would dump after unlocking $50.8 million.
Today, he did just that, but he didn’t dump it all at once.
He transferred about 890,000 HYPE to Hyperliquid and applied to redeem another 700,000 HYPE. This indicates that the selling pressure may last for several days.
However, the market remains very strong, with bulls consuming his supply, and his short position is now facing a loss of over $30 million, with the liquidation price rising from 89 to 91.25 due to margin calls.
What if the “biggest short” decides to close his position and admit his mistake next? What will happen to $HYPE ? #hype #币圈巴菲特