Following a dramatic price surge of the $HYPE token, leading to a $23 million short seller liquidation, Arthur Hayes sparked speculation about potential future volatility. His commentary, fueled by a mention of a “degen bull whale” potentially referring to James Wynn, highlights his focus on large-scale trader actions and their impact on market trends. While the price action of $HYPE has shown significant strength despite recent volatility, there is no indication yet that Wynn is planning any adjustments to his substantial Bitcoin long position (worth $1.1 billion with 40x leverage) on the Hyperliquid exchange. Hayes’ tweet came after a remarkable price increase for the token, which climbed as high as $37.24 on May 23rd.