HYPE whale short 5 times and closed its position, losing up to $11.803 million in 7 days

Planet News: According to Hypurrscan data, a whale who previously had a 5x short of 1.875 million HYPE tokens closed their position at $34.633 two hours ago. The address previously had a position value of $17.363 million, with the current position value remaining at $6.985 million. Within 30 days, the losses reached $23.522 million; within 7 days, losses were $11.803 million; within 24 hours, losses were $5.248 million. Previously, the whale opened a 5x short of 1.875 million HYPE tokens on Hyperliquid. On the 22nd, they deposited 2.05 million USDC into HyperLiquid to increase the margin for their 5x short HYPE position. At the time, they had an unrealized loss of $18.88 million, with a liquidation price of $32.67.