HYPE was called 100 or 150 by the whole network a few days ago, and last night it went from 75 to 64 Arthur Hayes, who shouted 150, has already started selling. Has this round of HYPE reached its end? Or is it finally time to get on the bus this time? The message may entice you, but the data on the chain will not lie Hayes was publicly bullish on HYPE a few days ago, even saying that HYPE would surpass SOL in this bull market. However, what he saw on the chain yesterday was that Arthur had already started selling his HYPE According to data on the AiCoin chain, Arthur's relevant address transfers HYPE to the Flowdesk execution address, which is then sold in HYPE spot and USDC is returned. On June 4th, at least 338500 HYPEs flowed into this suspected execution address. At present, there are about 120400 HYPE units left at this address, with a rough estimate of a difference of about 218000 units, which may have been sold or used for inventory adjustment. For market sentiment, the result is very direct: The person shouting 150 is getting slapped in the face, and the price has increased from 75 to 64 What's even more troublesome is that on June 6th, which is tomorrow, HYPE will have a large unlocking of about 9.8 million HYPEs, which is about 670 million US dollars at the current price. The combination of high position, celebrity selling, and large unlocking is enough to make many people start reducing risks. That's also why this callback is uncomfortable. Not because it fell, but because the seller was too good at telling stories But on the chain, it is never a unilateral retreat Loracle seems to have fully sided with the bulls According to AiCoin's on chain data statistics, Loracle currently holds approximately 136600 HYPE multiple orders, with a position value of approximately $8.67 million and an average price of approximately $70.54. Due to HYPE dropping from around 75 to around 63, this multiple HYPE order is currently experiencing a floating loss of nearly $960000. Compared to yesterday morning, Loracle's HYPE multiple orders increased from about 101200 to about 136600, with a net increase of about 35400 HYPE That is to say, although the price has come down, it is not a reduction in inventory, but a choice to continue to increase This line is crucial Because Loracle was still a big bear being watched by the entire market a few days ago, but later recognized a loss and took a short position, and then went long with a backhand. Now HYPE has fallen, it continues to hold on and continue to increase. This at least indicates that in its own trading judgment, the area around 64 is not the position it wants to withdraw from, and it has even been bullish for two consecutive days. It feels like it has completely sided with the bulls, and if it continues, it will become a big bull being watched by the entire market. Not only Loracle, but actually a16z has not withdrawn either According to AiCoin's on chain data statistics, a16z related addresses have once again hoarded about 155300 HYPEs worth approximately 11.12 million US dollars in the past 14 hours; Since 2026, a total of about 6.754 million HYPE have been hoarded, with an average price of about $46.24, and the book profit is still very high. So now the differences between HYPE have become very clear: On one side, Hayes is shouting and selling, and tomorrow there will be a large unlock. The price has just increased from 75 to 64 On the other hand, Loracle continues to increase its losses, while a16z is still hoarding coins Some people may say that this is a high-level distribution, and those who shout 150 have already started to cash in. If you are still holding on, the risk is certainly not small. But those who are bullish will say that it is precisely because Hayes has sold, unlocking is approaching, the price has been smashed to 64, and there has not been a significant pullback. Moreover, Loracle and a16z are still receiving, which shows that HYPE is far from over So the most critical position for HYPE today is not 100, nor 150 It's 64-65 If 64-65 cannot hold on, Hayes selling and unlocking tomorrow may continue to suppress market sentiment, and people will once again doubt whether this round of HYPE has peaked But if 64-65 can hold on, or even pull back above 70, then this pullback may not be the end of the trend, but a high-level turnover: short-term narrative funds have left, and those willing to continue betting on the Hyperliquid mainline have taken over Who do you trust more? Is it Hayes who started cashing out after shouting 150, or Loricle and a16z who continued to add positions during the decline? There is no unified answer in the market, and on chain data is the best proof of the direction of funds Hyperliquid Whale real-time dynamic and on chain full node data: https://www. (aicoin.com)/hyperliquid-api Join the AiCoin on chain community to view more signals: https://t.me/AiCoinWhaleData HYPE Hyperliquid BTC