HYPE drops below $21, triggering on-chain major long chain liquidations. If it falls to $20.3, it is expected to liquidate four major whales.

On January 21, according to HyperInsight monitoring, influenced by HYPE’s price dropping below $21 this morning, multiple major long whale positions on-chain have been consecutively liquidated. Currently, the largest long address “suspected of HYPE listing insider” whale (0x082e), after months of silence, transferred $1 million in margin to Hyperliquid last night, lowering its average long price from $20.13 to $19.33. This position now totals approximately $29.6 million, with an average price of $38.67, and an unrealized loss of $23.78 million (-401%). Yesterday, the second-largest on-chain long whale “liquidated $26 million HYPE long” was liquidated again for $7.01 million, reducing its position from $13.06 million to $4.95 million, with an unrealized loss of $2.28 million (-230%), and the next liquidation price is around $20.6. Additionally, several million-dollar whales starting with addresses (0x666) and (0xa8c) have also been liquidated. The most recent million-dollar whale close to liquidation yesterday (0x1c2) saw a total of $10.64 million liquidated from HYPE longs today, and its ETH long positions also exploded, recording a loss of $2.32 million, with only $320,000 remaining in the account, which has now been withdrawn and exited. Furthermore, monitoring shows that if HYPE’s price drops further to the $20.3–$20.6 range, an additional liquidation of over $23 million is expected on Hyperliquid, involving the “liquidated $26 million HYPE long” and several whales starting with addresses 0x433, 0x666, and 0xead, with liquidation prices concentrated near this range.