Hyperliquid bear turns bullish after losing over $46M shorting HYPE

Written by Yashu Gola , Staff Writer.Reviewed by Allen Scott , Staff Editor.Written by Yashu Gola , Staff Writer.Reviewed by Allen Scott , Staff Editor.Hyperliquid bear turns bullish after losing over $46M shorting HYPEMarketsPublishedJun 3, 2026The whale is now backing Arthur Hayes’ favored HYPE, ZEC and NEAR plays, signaling a sharp pivot toward momentum-led crypto bets.A crypto whale who stubbornly held his HYPE short through May’s rally has finally been punished as Hyperliquid’s token kept climbing.Key takeaways:Trader has opened fresh long positions in Arthur Hayes' trinity coins: HYPE, ZEC, and NEAR.HYPE has extended its bull pennant breakout and is now eyeing a rally above $100.Whale reverses HYPE bet after $46.46 million lossOn Tuesday, the trader known as “loracle.hl” finally closed his HYPE short, locking in a $46.46 million loss, according to data resource HyperBot.Loracle.hl's closed perpetual trades. Source: HyperBotThe position also cost him more than $54,000 in funding fees, showing how aggressively he had bet against HYPE’s bullish trend. Shortly after closing the losing short, Loracle.hl flipped long, opening a 2x leveraged position on 82,200 HYPE, worth about $5.98 million, at around $70.20, according to HypurrScan data.Loracle.hl's open perpetual trades. Source: HypurrScanBy Wednesday, the trade was already sitting on more than $213,000 in unrealized profit as HYPE climbed to $72.80.Whale goes net long on Hayes’ “Holy Trinity”Loracle.hl’s reversal was not limited to HYPE.HypurrScan data shows the trader also holding long positions in ZEC and NEAR, effectively putting him net long on BitMEX co-founder Arthur Hayes’ so-called "holy trinity" trade: HYPE, NEAR, and ZEC.The wallet held roughly $5.98 million in HYPE, $5.46 million in ZEC and $2.63 million in NEAR exposure as of Wednesday.Loracle.hl's open perpetual trades. Source: HypurrScanThe three positions were already collectively up by more than $920,000, led by over $521,000 in unrealized …

Hyperliquid bear turns bullish after losing over $46M shorting HYPE

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