Whale Dumps 6.51M USDC into Hyperliquid [HYPE], Opening a 5x Short Position

A whale recently deposited 6.51M USDC into Hyperliquid [HYPE] and opened a short position with 5x leverage, injecting notable bearish pressure. This move was largely anticipated given that HYPE hit the $22 supply zone and faced difficulty breaking through, leading to a downtrend.

Currently, the price is consolidating around $20.60, struggling to maintain upward momentum. The failure to break through key resistance indicates that selling pressure is increasing, and unless bulls manage to reclaim $22, the path of least resistance appears downward. A drop toward the $18 support zone becomes more likely if selling persists.

However, at the time of writing, HYPE traded at $20.54—up 1.71% in the past 24 hours.

HYPE Long Liquidations Outpace Shorts As the market continues to liquidate long positions, the price of HYPE may face additional corrections in the coming days.

According to CoinGlass, liquidation data showed a sharp imbalance—roughly $14,000 in long positions were wiped out compared to just $93 in shorts.

This indicates that traders are being forced out of their long positions, which suggests a growing bearish sentiment. Litcoins price faces more downside potential.

Moreover, the imbalance between long and short liquidations highlights the increasing selling pressure on HYPE.

The market faces greater downside potential as long positions are flushed out, further cementing the negative outlook for HYPE’s price in the near term.

This is a developing story, and any new developments will be reported as they unfold.

HYPE Shows Signs Of Stagnation As OI-Weighted Funding Rate Remains At 0.00999%The OI-Weighted Funding Rate for HYPE stood at 0.00999% at press time, reflecting cautious market sentiment. Traders remained hesitant, unwilling to take aggressive positions, and the Funding Rate did not possess the strength needed to drive the price higher.

As a result, the market is stagnant and trapped in a consolidation phase.

Given the cautious attitude among traders, HYPE may struggle to break out of its current range.

Until a clearer bullish signal appears, the market will likely continue in its neutral phase, limiting upward momentum.

HYPE is struggling to break through the $22 supply zone, leading to a downtrend.

Currently, the price is consolidating around $20.60, struggling to maintain upward momentum. The failure to break through key resistance indicates that selling pressure is increasing.

HYPE Long Liquidations Outpace Shorts As the market continues to liquidate long positions, the price of HYPE may face additional corrections in the coming days.

According to CoinGlass, liquidation data showed a sharp imbalance—roughly $14,000 in long positions were wiped out compared to just $93 in shorts.

This indicates that traders are being forced out of their long positions, which suggests a growing bearish sentiment. Litcoins price faces more downside potential.

Moreover, the imbalance between long and short liquidations highlights the increasing selling pressure on HYPE.

The market faces greater downside potential as long positions are flushed out, further cementing the negative outlook for HYPE’s price in the near term.

This is a developing story, and any new developments will be reported as they unfold.HYPE Shows Signs Of Stagnation As OI-Weighted Funding Rate Remains At 0.00999%The OI-Weighted Funding Rate for HYPE stood at 0.00999% at press time, reflecting cautious market sentiment. Traders remained hesitant, unwilling to take aggressive positions, and the Funding Rate did not possess the strength needed to drive the price higher.

As a result, the market is stagnant and trapped in a consolidation phase.

Given the cautious attitude among traders, HYPE may struggle to break out of its current.