Short squeeze tempest! HYPE surges violently by 6%, alarm for 34 million whales sounding, bottom fishing or top fleeing?

In the crypto world, trend followers eat meat, contrarians can't even drink soup

The short squeeze drama led by whales is reaching its climax. The 1-hour chart closely follows the upper band of the Bollinger Bands, with a bullish moving average alignment. But note that the KDJ is seriously overbought, and the price deviates too far from the mean, indicating a potential pullback.

On-chain monitoring shows that a whale holds 1.38 million HYPE tokens worth 87.6 million USD, with a 5x leveraged long position with unrealized profit of up to 34 million USD, with a cost basis of only $38.67 and a liquidation price of $50.9. This means the main force has a very thick safety cushion and has absolute influence to continue pushing higher. Smart money overview shows bulls crushing bears, with profit ratio exceeding 97%.

Long and short strategies

Long positions around 67 - 68; short positions around 70 - 72;

The trend is fierce, but it’s not advisable to chase high. The whale’s intention is to force a short squeeze, not to give money to retail investors.

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