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The biggest battle on $HYPE right now is basically a head-on collision between the TOP1 short and TOP1 long. Over $130M in positions are facing each other, and eventually one side is going to get forced out.
On the bearish side, wallet “Loracle” is holding a massive 5x short on 1.44M HYPE worth around $68.43M. The position was opened at an average entry of $42.55, but with HYPE continuing to push higher, the whale is now sitting on roughly $7M in unrealized losses.
Meanwhile on the other side, wallet 0x082…dca88 is still holding a huge 5x long on 1.38M HYPE worth about $65.37M. That position was built much lower, with an average entry around $38.67, and is currently showing nearly $11.98M in unrealized profit.
At this point, both positions have become major market anchors for HYPE. If volatility keeps increasing, one side could eventually face serious pressure , and the liquidation cascade could get violent.
Short:
0x8def9f50456c6c4e37fa5d3d57f108ed23992dae
Long:
0x082e843a431aef031264dc232693dd710aedca88