Arthur Hayes highlights $HYPE’s shakeout after a $23M short seller liquidation.
James Wynn holds a $1.1B Bitcoin long with 40x leverage on Hyperliquid exchange.
$HYPE’s price surge triggered liquidations, but strong momentum keeps bulls intact.
Arthur Hayes ignited discussion on May 24 when he tweeted about a $HYPE “cleanse.” The statement came after dramatic price increases for the token that began on May 23, when the value climbed as high as $37.24. As a result of the spike, several short positions were liquidated, and one position was said to have lost $23 million. Hayes’ remarks hinted that a large bullish trader might face liquidation, sparking speculation about future volatility.
Hayes mentioned a “degen bull whale,” which probably refers to James Wynn, a pseudonymous trader who often takes high-risk strategies. The question arose about whether Wynn could be under pressure to adjust his exposure because of recent market turbulence. While there is a lot of volatility, $HYPE has maintained strong momentum, and Wynn has not liquidated his positions.
The tweet was made after $HYPE’s success led to discussions about whether its rise could …
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