Hyperliquid Whale Loracle Closes $56M in Shorts, Eyes $58,800-$59,900 BTC Target

Loracle, an early Hyperliquid contributor and the platform's largest HYPE long holder, closed all BTC and ETH short positions over the past six hours for approximately $56 million in total, netting roughly $2.43 million on BTC shorts and $3.6 million on ETH shorts, Coinbob hot address data cited by BlockBeats show. The trader reopened a BTC short near $63,200 and added an ETH short, maintaining a hedge strategy of shorting BTC and ETH against a long HYPE position, and plans to take BTC profits in batches if prices fall to $58,800-$59,900. Current holdings include a 5x HYPE long worth about $50 million at an average $24.37 with unrealized gains of roughly $13.9 million, a 20x ETH short of about $8.1 million at roughly $1,920 with unrealized gains of about $510,000, and a 20x BTC short of about $35.7 million at roughly $63,232 showing around $100,000 in unrealized loss, with total positions of $103 million and about $3.2 million profit over the past 24 hours, the data show.