Hyper Liquid Bear flips knee after losing more than $46 million in bets on HYPE price.
Cryptowell, which stubbornly held HYPE for a short period of time until May, has finally been punished as Hypeliquid's token continues to rise.
Main Receptors:
The trader has opened new long positions in the Arthur Hayes trinity of coins: HYPE, ZEC and NEAR.HYPE has extended the bull run and is now eyeing a rally above $100.
Well, after a loss of $46.46 million, he reversed the HYPE bet
On Tuesday, a trader known as “loracle.hl” finally closed the HYPE short, locking in a loss of $46.46 million, according to data source HyperBot.
Loracle.hl closes forever transactions. Source: Hyperbot
The spot cost him over $54,000 in funding, which shows how aggressively he bet against the HYPE bullish trend.
Shortly after closing the losing short, Loracle.hl opened a 2x leveraged position on 82,200 HYPE, to $5.98 million, at around $70.20, according to HypurrScan data.
Loracle.hl Open Forever Businesses. Source: HypurrScan
On Wednesday, HYPE rose to $72.80, leaving the business sitting on an undisclosed profit of more than $213,000.
Wale takes a long ride on Hayes' “Holy Trinity.”
The Loracle.hl rollout wasn't limited to HYPE.
According to the HypurrScan data, the trader held long positions in ZEC and NEAR, making it successful in trading what BitMEX co-founder Arthur Hayes called the “holy trinity”: HYPE, NEAR and ZEC.
The wallet is held by approximately $5.98 million in HYPE, $5.46 million in ZEC and $2.63 million in recent exposure as of Wednesday.
Loracle.hl Open Forever Businesses. Source: HypurrScan
The three positions added up to a total of more than $920,000 with unrealized gains of over $521,000 on ZEC, approximately $213,450 on HYPE, and $185,900 near $185,900.
The pillar overturns Loracle.hl and suggests joining the “Holy Trinity” movement.
Hayes gave all three signs aggressive upside targets. He predicted that HYPE could reach $150 by August 2026, NEAR could deliver a 20x return by 2027, and ZEC could rise 5x next year, making them high-beta businesses to choose from outside of Bitcoin.
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HYPE Bull Pennant targets $105
HYPE's bull pennant breakout maintains its bullish target at $105, a 45% upside from its current price.
HYPE/USD Daily Chart. Source: TradingView
The setup was created after the token's sharp late May rally, followed by a tight consolidation marked by lower highs and higher lows.
A pullback could test the 20-day EMA towards $60.70. For Loracle.hl, 82,200 HYPE long opened at $70.20, a rally to $105 would raise the profit to about $2.86 million excluding financing charges.
