'Hyperliquid Early Contributor Loracle' Reinvests in BTC Weakness Relative to HYPE After Significant Profits, Plans to Take Profit Gradually at $58,800 to $59,900

BlockBeats News, February 6, according to Coinbob's popular address monitoring, BTC and ETH prices have retreated in the past 24 hours, while HYPE has remained relatively stable. The largest HYPE bull whale, 'Hyperliquid Early Contributor Loracle,' has closed all BTC and ETH short positions established the previous day within the past six hours. The total size of these short positions was approximately $56 million, with BTC shorts generating about $2.43 million in profit and ETH shorts generating about $3.6 million in profit, pushing their cumulative weekly profit to $16.6 million. After closing the positions, the trader reopened BTC shorts near $63,200 and simultaneously established ETH shorts, continuing their hedging strategy of 'shorting BTC and ETH while going long on HYPE.' These positions have already turned profitable again. Reportedly, they plan to take profit gradually when BTC's price drops to the $58,800 to $59,900 range. Their main position details are as follows: HYPE (5x long): Position size approximately $50 million, average price $24.37, unrealized profit approximately $13.9 million (+139%). ETH (20x short): Position size approximately $8.1 million, average price around $1,920, unrealized profit approximately $510,000 (+28%). BTC (20x short): Position size approximately $35.7 million, average price around $63,232, unrealized loss approximately $100,000 (+25%). This address is currently the largest HYPE bull on-chain and also ranks among the top BTC short whales, with a total account position size of $103 million and a profit of approximately $3.2 million in the past 24 hours.