Going in with 2x leverage—spot is over 60.7 million and futures are 8.6 million. Unilateral long exposure is fully maxed out— is this a bet that HYPE will break its previous high?

CryptoWorld News reports that trader Loracle has recently shifted to going long, with the HYPE long position size reaching $8.6 million. Previously, Loracel was HYPE’s largest short seller; it has now accumulated long positions across HYPE, ZEC, WLD, TON, ASTER, NEAR, and XMR. Among them, the HYPE long position is still its largest holding. It was opened yesterday with 2x leverage, and it has continued to add to the position today, bringing the size to $8.6 million. Loracel currently holds 892,500 HYPE spot tokens (worth approximately $60.7 million). After switching its contract-side positioning to long, its HYPE exposure has fully converted into a one-sided long exposure. At present, except for XMR, the long positions in the other six cryptocurrencies have all recorded unrealized losses to varying degrees.