The market is currently discussing whether HYPE can go to 100, but from the clearing data, the real first hurdle to pass may not be 100. It's 85-90. According to AiCoin's on chain data statistics, the liquidation distribution of large short positions in HYPE is currently around $61.10, and the near end above is not as thick as imagined. The liquidation value of short positions in the range of $64-75 is only over $10 million, which is more like a noise layer; From 75-85, there is pressure, but it is not yet the main battlefield. The true concentration is between $85-90. This segment hit 11 HYPE short positions with a total value of approximately 173.5 million US dollars, making it the largest liquidation band currently above. Loracle is the most prominent core inside, with a single address HYPE short value of approximately $110.3 million, a liquidation price around $89.20, and a floating loss of approximately $28.43 million. But this is not Loracle's story alone. In the same liquidation zone, there are also large short positions at adjacent positions such as 88.11, 87.93, 88.37, and 89.11. The scale is not as exaggerated as Loracle, but they connect the 85-90 range into a true pressure zone. In other words, if HYPE continues to rise, the market will not only encounter one Loricle, but a whole publicly visible bearish defense line. That's also why the meme 'Loracle anti pointing' is becoming increasingly easy to trade. If it's just a big spender losing money, at most it's just a bystander; But if this large player happens to be sitting at the core of the largest clearing zone and the market starts using HYPE 100 as a narrative anchor, then around 89 will become a target in the eyes of traders ahead of schedule. Bulls may wonder if there is any room for short selling, while bears may replenish margin or hedge in advance. Short term funds will repeatedly speculate around this line. The most easily misread aspect of clearing data is mistaking it for 'price will definitely explode', which is actually more complex. Loracle was not without defense in the past. In the old materials, everyone was still focusing on the vicinity of 69. On May 22nd, it had already reached 83.33, and now it has been pushed back to 89.19. The clearing line is moving upwards, indicating that it is still using funds and account structure to renew empty orders. But this does not mean safety. The account still has USDC ammunition, and the utilization rate of margin has been reduced to over 95%, with no available funds for withdrawal. It has the ability to continue carrying and is also paying higher costs to continue carrying. So the most noteworthy thing above HYPE next is not the integer 100 itself, but how the 85-90 range will be traded. If the price is close to here, will Loracle continue to push the liquidation line upwards or be forced to reduce its position? Will other bears in the same range move first? Will this public liquidation tape become a part of the bullish narrative in reverse? These questions may be more important than simply shouting HYPE 100. HYPE Hyperliquid