Wintermute has reduced its short exposure on Hyperliquid, trimming the position from $211.5 million to $80.48 million, according to data from Onchain Lens.

Foresight News reports that the firm now holds an $80.48 million short position and a $5.51 million long position.

The short exposure to the HYPE token rose from $5.6 million to $10.2 million, with an unrealized loss of $568,800.