Is the recent HYPE short position on HyperLiquid a big gamble by Loracle or just a way to average down?

HYPE7.82%
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CoinNetwork
CryptoWorld News: Renowned trader Loracle increased his short position on HYPE by 20,915.61 tokens within the HyperLiquid ecosystem, approximately $2,533,628.79.
The current position size is $99,711,395.11, with an average price adjusted from $44.30 to $44.46.
The current profit and loss is -$22,709,601.12, with a loss ratio of -113.88%.
The current token price is $57.57, and the liquidation price is $69.59.
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Kobik
· 05-21 08:45
Hedging
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