Hyperliquid has fallen sharply from its record high after a whale-led selloff triggered a wave of liquidations and pushed momentum indicators into their weakest position since the token's breakout rally began. According to data from crypto.
HYPE leads in price growth and perp trading volume, but Solana's larger token supply keeps its market cap firmly ahead.
Hyperliquid token has entered turbulence after one of crypto's strongest rallies suddenly reversed, with HYPE price plunging nearly 17% in a sharp selloff that caught traders off guard. The correction comes as fresh wallet movements linked to Arthur Hayes reignited fears of whale-driven profit-taking, adding pressure to an already overheated market structure.
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Arthur Hayes just hit the sell button really hard, sending shockwaves through the altocin market.
HYPE's uptrend survived the sell-off, but a key test now lies ahead.
The crypto veteran blamed macro risks and AI mania for taking profits, drawing backlash from traders for selling well below his recent bullish forecasts.
Hyperliquid price has retreated from its record high after BitMEX co-founder Arthur Hayes liquidated his entire HYPE holdings, triggering profit-taking across the market and raising questions about whether key support levels can withstand mounting selling pressure.
HYPE hit an all-time high near $75.40 while Solana dropped to its lowest level since 2023. Hyperliquid's perp volume hit a record 6.63% global share, and Grayscale launched its HYPG ETF.
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Hyperliquid's market capitalization has climbed to over $16 billion, but still well behind Solana's $42 billion.