$1 mln flows into Hyperliquid even as HYPE slips: What can bulls do?
The post $1 mln flows into Hyperliquid even as HYPE slips: What can bulls do? appeared on BitcoinEthereumNews.com.
A $1M buy emerged as sentiment plunged and long liquidations exceeded $900K. HYPE broke support while short pressure stacked near $40 threatens volatility. A newly created wallet sparked attention after depositing $1M USDC into HyperLiquid [HYPE] and acquiring over 25,500 HYPE, raising eyebrows amid a sudden market drop. At press time, HYPE traded near $38.2 after sliding 6% in 24 hours, signaling a sharp shift in sentiment. Despite the dip, such a large buy-in hints at underlying conviction. The move comes at a time when volatility and liquidations are peaking, forcing traders to reconsider near-term expectations for HYPE’s trajectory in a fragile setup. Why has trader confidence in HYPE collapsed? Positive sentiment surrounding HYPE has plunged to 18.02—the lowest reading in over two months. This steep decline reflects widespread anxiety across the market, as traders weigh the implications of the recent price drop and mounting volatility. Historically, such sentiment crashes have preceded both relief rallies and further capitulation. While fear dominates the landscape, contrarian investors may interpret this emotional bottom as a potential setup for recovery—should the market stabilize in the near term. Source: Santiment Are long liquidations a red flag or a reset? At the time of writing, long liquidations on HYPE exceeded $932K, dwarfing the $43K in short liquidations. This imbalance reveals that most traders were positioned bullishly—only to be wiped out as price slipped below key support. HyperLiquid alone accounted for $561K of the liquidations, highlighting how leveraged bets turned costly. These aggressive liquidations, although painful, could signal a market reset, washing out weak hands and setting the stage for healthier price action—if sell pressure doesn’t intensify further. Source: CoinGlass Has HYPE’s breakdown flipped the trend? HYPE recently broke below its ascending channel support after multiple failed attempts to reclaim the $40–$43 range. This breakdown disrupts its…
Filed under: News - @ July 9, 2025 4:25 am