On-chain data reveals a significant shift in market sentiment among high-net-worth traders as volatility impacts the HYPE and NEAR tokens. Following a substantial loss exceeding $1 million from unsuccessful short positions, the prominent whale known as Loracle (@loraclexyz) has pivoted to a bullish strategy. According to monitoring reports from Onchain Lens on June 2, 2026, this move coincides with opposing bets from other large-scale investors, highlighting a sharp divide in technical outlooks for these specific crypto assets.
Loracle Pivots to Leveraged Longs After Heavy Losses
After the initial financial setback, Loracle has restructured their portfolio to capitalize on potential upward momentum. Data indicates that the trader opened long positions for 82,195 HYPE tokens, utilizing 2x leverage with a total valuation of approximately $1.7 million. Leveraged positions allow traders to increase market exposure, though they carry higher liquidation risks if the price moves unfavorably.
Beyond the HYPE ecosystem, the whale has also diversified into the NEAR Protocol ecosystem. The current strategy includes:
- Opening 10x leveraged long positions on the NEAR token.
- Continuous accumulation of assets to increase total holdings.
- Offsetting previous short-side losses through aggressive long-side exposure.
Contrarian Short Positions Yield Unrealized Profits
While Loracle maintains a bullish stance, other market participants are betting on a price correction. An investor identified by the wallet address 0x97f has taken a contrary position by opening a 10x leveraged short on 270,000 HYPE tokens. This position, valued at $5.77 million, has proven profitable in the short term.
As of the latest reports, whale 0x97f sits on an unrealized profit exceeding $1 million. This highlights the high-stakes nature of the Hyperliquid (HYPE) market, where opposing whale strategies can lead to massive liquidations or gains depending on the underlying blockchain's price action.
The divergent strategies between Loracle and address 0x97f underscore the current uncertainty in the altcoin sector. While one party seeks to recover from a million-dollar deficit by betting on growth in HYPE and NEAR, the other is successfully capitalizing on downward pressure. These on-chain movements serve as a critical barometer for retail investors monitoring the risk appetite of institutional-grade traders within the decentralized finance space.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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