Prominent crypto trader loracle.hl has reversed his bearish stance on Hyperliquid (HYPE), closing a $110 million short position at a $46 million loss before opening a 2x leveraged long position on 82,195 HYPE, according to data tracked by Lookonchain.
loracle.hl (@loraclexyz) has closed his entire $110M+ $HYPE short, taking a $46.46M loss.
He then flipped bullish on $HYPE and opened a 2x long on 82,195 $HYPE($5.73M).https://t.co/D6rm4xqAXv pic.twitter.com/aY0OCSN8s9
— Lookonchain (@lookonchain) June 3, 2026
The move occurred just before Grayscale launched its Hyperliquid Staking ETF, which undercuts competing HYPE ETPs with an industry-low 0.29% management fee.
