I love you, my sons.
This is such an interesting contrast in reactions between Loki and Thor with the context of Odin’s quote, because you can tell that while Loki is taken aback, shocked, and even saddened by these words, Thor is still reeling from the revelation of Hela and impending Ragnarok and it doesn’t seem like Odin’s words even really register to him. He knows and has always known that Odin loves him; he’s never been made to doubt it and he has no reason to react with anything other than the barest acknowledgement while his head is still spinning with this new truth he must face.
Loki, however, is much more preoccupied and consumed with the verbal acknowledgement of Odin’s love, and the issue of Hela is little more than a footnote to the conversation for him. He knows much better than Thor how deceptive Odin is, and while initially he’s somewhat surprised by the reveal of Hela, he’s not bowled over in astonished shock the way Thor is.
Loki expects Odin’s lies and is far more bewildered by Odin’s love, while Thor expects Odin’s love and is stunned by Odin’s lies. There’s something incredibly straightforward in that, expressed in each of their reactions, that really just drives home the dichotomy between Thor and Loki in general.