HYPE’s short big-whale plan is to rebound and then short again, with a $18 million sell order placed above $57.

Deep Tide TechFlow news: On July 28, according to Hyperinsight monitoring, a whale (0x4e23) has posted a total of 62 HYPE limit-sell orders from last night to this morning, with prices ranging from $57.27 to $58.34. It plans to sell approximately 320.4k HYPE in total, with a notional value of about $18.46M, and a weighted posted order price of about $57.62.

Among them, 55 sell orders are concentrated between $57.27 and $57.74, with a remaining quantity of about 273.2k HYPE and an amount of about $15.71M, accounting for 85.3% of all posted order quantity; the other 7 orders are located between $58.22 and $58.34, with an amount of about $2.75M.

HYPE is currently trading at about $55.42. The above sell orders are 3.4% to 5.3% higher than the current price, and none are reduce-only orders. This suggests the whale is waiting for a price rebound to continue shorting, rather than taking profit and exiting. So far, 8 orders have partially executed, with a cumulative sell of about 10.4k HYPE and a traded amount of about $597k.

The whale is currently shorting about 71.9k HYPE with 5x full margin, with a position value of about $3.99M. The opening average price is $57.17, showing an unrealized profit of about $126k, and a return rate of about 15.3%.

If all the remaining posted orders are fully filled, its HYPE short position would increase to about 392.3k HYPE. The expected overall opening average price would be about $57.54, and the position size would expand to about $22.57M.