Hyperliquid (HYPE) holds near record highs as profit-taking and $12.8M shorts build

Hyperliquid's HYPE climbed above $67 into new all-time-high territory, while some early holders began taking profits, including a wallet that realized roughly $95 million in gains. A whale also opened a combined $12.8 million leveraged short across HYPE and Lighter (LIT), even as HYPE stayed above $65 and the position showed nearly $200,000 in unrealized losses at press time. The next move hinges on whether ongoing inflows can keep absorbing distribution and bearish positioning.