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While Bitcoin and gold both took a sharp dive yesterday, HYPE decided to do its own thing and absolutely rip. 🔥
A massive wave of short positions piled onto HYPE, but that selling pressure just turned into rocket fuel instead. The more people tried to short it, the higher it pushed.
The famous whale Loracle finally folded after watching his position bleed. He took a brutal 46 million dollar loss and closed out his entire short. That forced buyback alone helped send the price surging. HYPE hit a low around 70, then immediately bounced back above 73.
This is a textbook short squeeze in motion. Every stop loss from the bears is just adding more fuel to the fire.
The big question now: when does this squeeze finally run out of steam? 🤔
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Cryptos tendance
BTC/USDTBitcoin
$67 689,2+0.57%
ETH/USDTEthereum
$1 903,45-0.61%
HYPE/USDTHYPE
$69,18-3.77%