HYPE Whale Faces $22M Loss as Short Squeeze Risks Rise
A massive short position on Hyperliquid is putting one trader’s nerves to the test. The wallet ‘0x8ef…’ holds a 5x cross-margin short on 1.80 million HYPE, currently valued at $102.98 million.
With HYPE trading near $57.30, the trader faces over $22.18 million in unrealized losses. Despite the pressure, the whale recently increased exposure, risking total liquidation if the price reaches $69.
ETF Inflows and Institutional Accumulation
Strong institutional demand fuels the token’s rally. US spot HYPE ETFs have pulled in $58.73 million since launching on May 12.
On-chain data reveals heavy accumulation. A wallet linked to Galaxy Digital acquired 158,100 HYPE for $8.8 million, while another address withdrew $29.87 million worth of the token from Coinbase.
This buying pressure triggered massive liquidations. Over $36.33 million in positions evaporated in 24 hours, with short sellers accounting for 94% of the total damage.
Technical Exhaustion Hints at Pullback
Despite the bullish momentum, HYPE is flashing signs of exhaustion near its record-high resistance of $59–$60. The daily Relative Strength Index (RSI) has climbed to 77, pushing the asset deep into overbought territory.
A rejection at this key level could trigger a profit-taking wave. Analysts eye a potential -20% pullback toward the $51.5–$45 support zone, which aligns with the lower boundary of its ascending channel.
