Bearish whale hits take profit and stop loss: HYPE with unrealized profit of 1.15 million vs PUMP with unrealized loss of 100,000 — a multiple-choice question

Well-known short seller “Shanzhai Air Force Leader” made an interesting position adjustment today. They took profits on part of HYPE and actively cut losses on PUMP. What does this operation reflect?

Core Data of the Position Adjustment

This address handled two short positions differently in a short period:

Why Do the Two Coins Have Different Fates?

HYPE: Logic of Profit-Taking

HYPE is a popular coin on Hyperliquid, ranked 15th by market cap. According to the latest data, HYPE is currently priced at $24.86, down 3.71% in the past 24 hours and down 5.99% over the past 7 days. This downward trend is precisely the source of profits for short sellers.

The total short position value of this address in HYPE reaches as high as $7,922,200, with an unrealized profit of $1,150,300. The partial profit-taking of 4,599.65 tokens (about $11,420) reflects a classic risk management approach: take some profits when the market is favorable while keeping the main position to participate in subsequent moves. This is a conservative but pragmatic approach.

PUMP: The Helplessness of Stop-Loss

In contrast, the PUMP short position was less fortunate. The total short position value in PUMP is $5,151,200, but it is currently at a loss of $10,390. The operation to reduce 39.31 million PUMP tokens (worth $102,600) clearly aims to control risk—when the judgment on a direction deviates, timely stop-loss is often wiser than stubbornly holding on.

The Trading Style of This Address

According to relevant information, this “Shanzhai Air Force Leader” address previously performed well in LTC. They significantly increased their LTC short position earlier, ultimately achieving an unrealized profit of over $259,000, accounting for 75.54%. The recent profit-taking on HYPE continues this address’s style of taking profits when the market turns favorable.

The stop-loss on PUMP also shows that even experienced short sellers can make misjudgments. The key is whether they can admit mistakes and cut losses promptly.

Behind Market Signals

This adjustment also reflects a phenomenon: the performance of different coins in the altcoin market shows clear divergence. As an important coin within the Hyperliquid ecosystem, HYPE exhibits a clear downtrend, making it easier for shorts to profit. Meanwhile, PUMP may be supported by other factors, putting short sellers under pressure.

This also reminds investors that in the derivatives market, the risk-return characteristics of different coins vary greatly. Blindly copying trades or stubbornly sticking to a view can easily lead to pitfalls.

Summary

The core logic of this adjustment is clear: take partial profit of $115,000 in unrealized gains on HYPE, and actively cut a $100,000 loss on PUMP. It’s neither an aggressive full liquidation nor stubbornly holding through losses, but a balanced choice by an experienced short seller between risk and reward.

From a market perspective, this also illustrates two realities in the derivatives market: first, profit opportunities do exist but require correct direction; second, stop-loss is equally important, even more so than taking profits, testing traders’ psychological resilience. Future attention should be paid to this address’s movements in other coins, especially whether the PUMP short will continue to adjust.