Significant Losses in Short Selling of HYPE

An analyst @ai_9684xtpa posted on X about a trader experiencing substantial losses while short selling the cryptocurrency HYPE. The trader incurred a loss of $306,000 in less than 24 hours yesterday. This morning, the trader faced additional losses of $73,000 and $184,000 in two separate 29-minute holding periods at 6 a.m. and 8 a.m., respectively. Currently, the trader holds 224,000 HYPE tokens, valued at $10.63 million, with an unrealized loss of $184,000. The total loss from short selling HYPE since yesterday amounts to $747,000, including the unrealized loss.