Loracle—this short position is pretty stubborn. With -130% and still adding to it—are they betting on HYPE topping out, or are they just refusing to lose?

Crypto World News reports that well-known trader Loracle increased his short position in HYPE by 2,347.77 tokens within the HyperLiquid ecosystem, approximately worth $2,155,631.68. The current position size is $111,112,594.59, with an average price adjusted from $45.35 to $45.37. The current profit and loss stand at -$29,089,924.05, with a profit/loss ratio of -130.90%. The current HYPE token price is $61.46, and the liquidation price is $89.18.