HYPE short whale plans to add short positions on rebound, placing $18 million sell order above $57

According to monitoring by Hyperinsight, a whale (0x4e23) has placed 62 HYPE limit sell orders concentrated from last night to this morning, with prices ranging from $57.27 to $58.34. The remaining planned sell volume is approximately 320,400 tokens, with a nominal value of about $18.461 million and a weighted average sell order price of approximately $57.62.

Among these, 55 sell orders are concentrated between $57.27 and $57.74, with a remaining volume of about 273,200 tokens, valued at approximately $15.709 million, accounting for 85.3% of total order volume. Another 7 orders are placed between $58.22 and $58.34, valued at about $2.752 million.

HYPE is currently trading at approximately $55.42. The aforementioned sell orders are 3.4% to 5.3% above the current price, and none are position-reducing orders, indicating that the whale is waiting for a price rebound to increase short positions, rather than taking profits and exiting. Currently, 8 orders have been partially filled, with a cumulative sale of approximately 10,400 tokens, resulting in a transaction volume of about $597,000.

The whale is currently shorting approximately 71,900 HYPE with 5x full margin, with a position value of about $3.985 million and an average entry price of $57.17. The unrealized profit is approximately $126,000, yielding a return rate of about 15.3%.

If all remaining orders are filled, the whale's HYPE short position will increase to approximately 392,300 tokens, with an estimated combined average entry price of about $57.54, and the position size will expand to approximately $22.572 million.