The post Why Is HYPE’s Price Up Today? appeared on BitcoinEthereumNews.com.

TL;DR HYPE rebounds from $34 to $47, with $50 as the next key resistance level to watch. Open interest climbs 5% to $2.02B as traders position for a potential breakout. Network leads in fees, funding consistent buybacks that add steady demand to the market. Price Nears Previous Peak Hyperliquid (HYPE) is changing hands at $47, edging closer to its record level around $50. The token has recovered from the $34–$35 range, where it traded after a drop of roughly 20% earlier this month. It has since moved past the $44.70 area, which may act as support in the short term. Market watcher McKenna said the move higher has been “led by spot buying” with strong absorption from the AF. With the AF ratio above 5%, they believe selling pressure has eased. The analyst also pointed to supply sitting above $50, but expects “more than $5 million per day in buybacks” to absorb it in the weeks ahead. $HYPE now approaching all time highs whilst open interest had a substantial wipeout. Move up has been primarily driven by spot buying and absorption from the AF with AF ratio >5% indicating exhausted sellers. Orderbook above $50 definitely has supply sitting there but new wave… pic.twitter.com/grdO2loT4K — McKenna (@Crypto_McKenna) August 13, 2025 Positioning in Futures Markets The decline earlier in August saw open interest fall by about 12%, equal to 4.8 million HYPE, as leveraged positions were cut back. Current figures remain below the highs seen before that drop. According to Coinglass, open interest has since risen 5% to $2.02 billion. The increase has come alongside the recent price rally, suggesting traders are opening new positions ahead of a potential break through $50. Source: Coinglass Volume Growth and Market Balance Trading volume over the past day is up 19% to $2.59 billion. Activity…

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Filed under: News - @ August 14, 2025 10:29 am