Hyperliquid Whale Holds 81% Short Book and $2.7M Profit as HYPE Bet Pays off

Jun 12, 2026

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A Hyperliquid trader dubbed a “perma-bear” is running an 81% short book with a $2.7 million all-time profit, led by a $13.57 million HYPE short up $539,000, per analytics firm Nansen.

A Bear That Keeps Winning The perma bear’s recent market moves, not all of which are shorts, per Nansen

The bet is paying off because HYPE has retreated from its highs after hitting an all-time high of $75.51 on June 2. It is now trading closer to $58, roughly 25% below that peak. The decline has rewarded shorts after a euphoric spring run-up.

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