HYPE has been almost entirely a long-side liquidation event this hour: $2.199 million in positions were liquidated, with zero short liquidations. Not one of the 203 trades on the short side escaped the sell-off after the rebound.
This isn't a case of “both sides getting hit”—it's a concentrated long-leverage wipeout. BTC also saw $1.799 million in liquidations over the hour, and SOL saw $1.099 million. HYPE's long-side losses were still the highest of the three, with chasing-the-rally positions getting wiped out first.
If you're trying to buy the dip on HYPE, first check whether liquidations are cooling off. Don't mistake a sharp one-hour drop for a confirmed bottom. Do you think this move is flushing out leverage, or will longs continue to come under pressure?
View in real time: https://www.coinboss.com/liquidations