Hyperliquid Trader Shifts Focus to Short Positions on HYPE, BTC, and SNDK

On May 12, Hyperinsight reported that Hyperliquid's prominent trader 'Loracle' has fully closed his profitable long positions in ZEC and TON, redirecting his focus to short positions in HYPE, BTC, and SNDK. According to BlockBeats On-chain Detection, Loracle's weekly profits have surged to $12.7 million. The largest position currently held by Loracle is a short on HYPE, utilizing 5x leverage to short 1.2432 million HYPE, making it the largest short position on the Hyperliquid platform. During the recent decline in HYPE, this position has turned profitable, with unrealized gains of approximately $790,000, representing a 7.8% increase. In the past two days, Loracle has significantly increased his short position in HYPE, accumulating around $12 million and lowering the average entry price to $41.81. Additionally, last night, he initiated a short position in BTC with 20x leverage, amounting to $11.1 million.