Are the actions of the whale just a weather vane? Reducing HYPE shorts, betting on ZEC/TON/ASTER longs—this rebalancing logic is worth pondering—are they stop-losses or switching positions to chase hot spots?

Mars Finance News, on May 31, according to HyperInsight monitoring, Loracle reduced its short position on HYPE by another $16 million, remaining with 1.3M HYPE tokens (worth approximately $89 million), with an unrealized loss exceeding $30 million. On the other hand, Loracle increased its long positions in ZEC, TON, and ASTER, totaling about $6.5 million, and the positions are still growing.