TechFlow News: On May 30, on-chain data shows that prominent trader Loracle recently adjusted his positions, partially closing his previously established massive HYPE short position.
His HYPE short position has decreased from approximately 1.83 million contracts to 1.73 million contracts—a reduction of roughly 100,000 contracts. The position remains underwater, with an unrealized loss of approximately $35 million; its liquidation price stands at around $91.51.
Meanwhile, Loracle has opened a new SOL short position and closed prior small short positions in VVV and LIT.
Notably, in addition to his short positions, Loracle still holds approximately 892,000 HYPE tokens in spot—valued at roughly $59 million at current prices. As HYPE continues setting new all-time highs driven by ETF speculation and capital inflows, market participants are closely watching whether he will sell down his spot holdings over the coming days, potentially impacting the token’s price.
Previously, Loracle published a comparative analysis of HYPE and SOL ETFs, hinting at potential downside risk for HYPE; however, that content was subsequently deleted. The market broadly views his subsequent position changes as a key indicator for HYPE’s near-term price action.
