HYPE: Loracle Books $29M Loss on Short

Loracle has started booking losses exceeding $29M on his 5x $HYPE short position.

Price action at $61.56 shows HYPE respecting the EMA50 support at $58.03 with MACD golden cross intact, suggesting continuation rather than the crypto market crash some HYPE price prediction models anticipated, while AI industry impact remains secondary to onchain flows.

With price testing upper Bollinger resistance at $63.87 while RSI sits neutral at 55.62, the structure favors a push higher before any test of lower band support near $56.33 or the distant EMA200 at $49.61.