BERA price drops by 35%, trader Loracle makes $630000 profit from precise short selling

On February 12th, the BERA price surged to $1.36 this morning, and then quickly fell by more than 35% within 15 minutes, with the lowest dropping to $0.88. Trader Loracle, an early contributor to Hyperliquid, gradually established short positions in the range of $1 to $1.33, with a peak position size of $3.8 million. When the coin price fell to around $0.9, they closed all positions and took profits, earning $630000 with a return rate of nearly 50%. The address has recently adopted a compound hedging strategy, with a total holding size of $107 million and an overall floating profit of nearly $11 million. Loracle, formerly known as Laurent Zeimes, is the founder of Hypurrfun. Recently, it has been buying HYPE at an average price of $22 and has not yet closed its position.