According to Cointelegraph, an anonymous whale on the Hyperliquid platform has undergone a dramatic strategy reversal after suffering a loss of over $46 million from shorting HYPE. The trader, who previously held a large short position on the token, has now shifted to a bullish outlook.
The whale is now backing HYPE, ZEC, and NEAR — precisely the assets that BitMEX co-founder Arthur Hayes has repeatedly touted as long-term winners. Hayes has publicly highlighted the strengths of HYPE in high-performance trading, ZEC’s privacy features, and NEAR’s scalability and user experience, making his picks closely watched by certain market participants.
This sharp pivot is seen as a clear signal that the trader has abandoned contrarian shorting in favor of momentum-driven bets. While the exact position sizes and entry prices remain undisclosed, the combination of a $46 million loss and an immediate bullish repositioning offers a fresh case study in crypto risk management and sentiment shifts.