Hyperliquid (HYPE) is targeting a technical correction to the $76 support level following a 75% drop in weekly transaction volumes and a bearish RSI signal on the 4-hour chart.
At least 73 accounts increased long positions by more than $1 million each across Bitcoin, Ether and nine altcoin assets.
The outcome-market platform generated $51 million in September, while soccer World Cup contracts represented 28% of cumulative volume.
The Assistance Fund has spent about $1.365 billion on purchases, with its holdings valued at approximately $3.953 billion as of Oct. 13.
HYPE drops to $82.61 while Bitcoin gives up only 0.8 percent. An own survey of the exchange shows why: $1.66 billion of open leveraged positions stand against $611 million of daily turnover.
The wallet opened GOOGL and GME long positions currently worth a combined $57.42 million, using 20x and 10x isolated leverage.
The wallet bought about 6,060 ETH in two minutes, moving the quoted price 0.12% while holding large Papertrade positions.
The trader also opened a 24,000-ETH long position valued at about $60.7 million, with an unrealized profit of $2.6 million.
The account's total long positions exceeded $60.95 million, including a 20,000-Ether position with about $11.61 million in unrealized gains.
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Short positions totaled $4.458 billion, compared with $3.892 billion in longs, while an ETH short held an unrealized loss of $15.4991 million.
Bitwise Hyperliquid ETF accounted for the full withdrawal, while cumulative net inflows across the products reached $334 million.