#HYPE再度领涨 As of May 22nd, HYPE surged 15% in a single day, reaching a high of $58.97, with a year-to-date increase of 134%. In the past 24 hours, this bullish rally that crushed the shorts contributed approximately $30.6 million in futures liquidations.
The core driver of this violent surge is a textbook short squeeze. On May 18th to 19th, funding rates turned significantly negative, with shorts betting on a pullback, but instead, the price rose, forcing shorts to close positions and cover, which in turn fueled the upward momentum.
The most classic victim was the largest contract short, Loracl