Two short sellers on Hyperliquid are collectively holding about $40.971 million in HYPE short positions and are currently down roughly $7.964 million on paper, according to Odaily. Overnight, the two accounts placed 200 buy orders between $64 and $77.77, with a combined value of about $33.953 million, in an apparent plan to scale into buybacks if the token price pulls back.
One address holds a short position of about 240,500 HYPE at an average entry price of $62.50, with unrealized losses of roughly $4.09 million. That trader placed 100 buy orders between $70.1 and $77.77 worth around $17.698 million, enough to cover the entire short. The other address holds about 274,800 HYPE in short exposure at an average entry of $65.41, with unrealized losses of about $3.875 million. It placed another 100 buy orders between $64 and $72 totaling about $16.255 million, covering about 87.3% of the short.
Most of the orders were created last night, and some were still being adjusted this morning. HYPE was quoted at about $79.51 at the time of the report.
Two HYPE short sellers on Hyperliquid are collectively holding about $40.971 million in short positions and are showing unrealized losses of roughly $7.964 million, according to Odaily.
200 buy orders placed for staged covering
The two traders placed 200 buy orders overnight between $64 and $77.77, with a combined value of about $33.953 million, waiting for a pullback to cover in batches. Most of the orders were created last night, and some of them were still adjusted this morning.
First address: average short entry at $62.50
One address holds a short position of about 240,500 HYPE, with an average entry price of $62.50 and unrealized losses of about $4.09 million. The account placed 100 buy orders between $70.1 and $77.77 worth about $17.698 million, enough to cover the full short position.
Second address: buy orders cover about 87.3% of the short
Another address holds about 274,800 HYPE in short positions, with an average entry of $65.41 and unrealized losses of about $3.875 million. It placed 100 buy orders between $64 and $72 totaling about $16.255 million, covering about 87.3% of the short exposure.
Current price and order levels
HYPE was trading at about $79.51. That puts the nearest covering order at $77.77 about 2.2% below the current price. If HYPE falls toward $72, the other trader's covering orders would move into the execution range.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
