#HYPEShortSqueeze — $36.5M in Shorts Got Obliterated on Hyperliquid HYPE pushed past $59 this week — just cents from its all-time high — and wiped out $36.5 million in short positions in under 24 hours. The trigger: Bitwise and 21Shares launched spot HYPE ETFs on May 15, pulling in demand that short sellers clearly didn't price in. From its low around $22 earlier this year, HYPE has now recovered 130%+. The irony is almost too on the nose. Hyperliquid is a perps DEX — a protocol built for exactly this kind of trade. Getting squeezed on the very platform you're betting against has a certain poetry to it. Is this a genuine ATH breakout, or just a squeeze that fades once the shorts are cleared? Just sharing my thoughts. Not financial advice. DYOR. #HYPEShortSqueeze #Hyperliquid #OKXOrbit