HYPE: Largest Short Hedger Sells $33M Spot

HYPE largest short loracle.hl was never running a naked short but instead hedging his 2.1 million HYPE holdings valued at $127 million; after fresh highs he moved 557,000 HYPE ($33.35 million) from HyperEVM to Hyperliquid and is now actively selling spot, adding near-term supply pressure amid ongoing HYPE price prediction debates.

With HYPE at $60.75 testing upper Bollinger resistance at $59.83 while RSI(14) prints 81.98 in overbought territory, a healthy retracement to the EMA50 support at $47.65 looks probable before continuation of the bullish trend that still holds above both EMA50 and EMA200, shaping near-term crypto market dynamics for leveraged participants.