Two major short sellers of HYPE have lost nearly $8 million and plan to exit their positions.

According to TradingBeats monitoring, two HYPE short sellers on Hyperliquid hold a combined short position of approximately $40.971 million, with unrealized losses of around $7.964 million. Last night, the two placed 200 buy orders in the $64–$77.77 range, totaling about $33.953 million, waiting for the price to fall before covering their positions in batches. The address starting with 0x939f holds roughly 240,500 HYPE short contracts at an average price of $62.50, with unrealized losses of around $4.09 million. It placed 100 buy orders in the $70.1–$77.77 range worth $17.698 million, covering its entire short position. The other address starting with 0x37b8 holds about 274,800 HYPE short contracts with an average entry price of $65.41, and unrealized losses of approximately $3.875 million; it placed 100 buy orders in the $64–$72 range totaling $16.255 million, covering around 87.3% of its short position. Both sets of orders were primarily created last night, with some orders still adjusted this morning. HYPE is currently trading at around $79.51, just about 2.2% away from the nearest tier of $77.77 covering orders. If the price continues to drop to around $72, the second short seller’s large-scale covering plan will enter the execution range.