🧨 Whale Trapped: $6M in Unrealized Loss on HYPE
Address 0x20b1…08a6 is back in the spotlight — this time it holds 1.875M HYPE in a short position, which accounts for almost 10% of the total open interest on the exchange. Its diluted entry price is $20.44, and liquidation will occur at $27.52.
Against the backdrop of a pump after Trump's first public deal, the HYPE price surged sharply, and the whale's position instantly went into the red. It is currently recording an unrealized loss of about $6,000,000 and was forced to add another $5M in collateral.
🔹 The whale is literally "trapped" in the short: attempting to cover such a massive position (almost 2 million tokens) will only drive the price up further. This makes the $20.44 level a key support — the market understands that the whale won't let it go lower, otherwise an aggressive buy-back will begin.
🔥 What does this mean?
1️⃣ The risks of a new short squeeze remain high. If the price approaches $27.52, a chain reaction of liquidations is possible.
2️⃣ Major players are already in the red — which means opening shorts right now is extremely dangerous.
💬 Note: one such participant currently holds almost 10% of the total OI for the token. This affects the entire HYPE market and could form a new trend.
