Hyperliquid (HYPE) Price: Whales are Buying the Dip — Is $80 Still on the Table?

TLDR

• HYPE dropped nearly 7% as broader crypto markets sold off, with over $660 million in total liquidations.
• Whale wallets accumulated over $23 million worth of HYPE during the dip, including a $17.45M withdrawal from Coinbase Prime.
• A wallet linked to Arthur Hayes added 44,156 HYPE worth roughly $3 million after previously profitable trades.
• HYPE is holding key support between $58–$60, with the next resistance zone at $70, then $75–$80.
• Derivatives data shows a long-to-short ratio above 1 and positive funding rates, pointing to continued bullish sentiment among traders.

Hyperliquid (HYPE) has pulled back around 7% as Bitcoin, Ethereum, and most altcoins entered a risk-off phase. More than $660 million in liquidations swept through crypto markets, pushing many tokens lower.

Despite the sell-off, on-chain data tells a different story for HYPE. Large investors have been actively buying during the dip rather than stepping back.

On-chain analytics platform Lookonchain flagged two major moves. A newly created wallet withdrew 278,827 HYPE worth $17.45 million from Coinbase Prime. Separately, whale wallet 0x2386 pulled 96,930 HYPE worth $6.01 million from BitGo after a one-month break.

That alone puts whale accumulation during the dip at over $23 million.

Arthur Hayes-Linked Wallet Re-Enters

A wallet linked to BitMEX co-founder Arthur Hayes also made a move. It withdrew an additional 44,156 HYPE worth close to $3 million from an exchange.

The wallet had already made several profitable HYPE trades in recent weeks before this latest re-entry. It’s drawing attention because it suggests experienced market participants still see value at current prices.

A separate whale withdrew 60,392 HYPE worth roughly $4.18 million from Gate, with that address now holding over 457,000 HYPE valued at more than $31 million.

HYPE had been one of the stronger-performing altcoins in recent weeks, rallying toward the $78–$80 zone. That strength made it a target for profit-taking once broader sentiment turned.

The token is now testing support between $58 and $60, a level that lines up with previous breakout zones and the 50-day EMA at $58.94.

What Derivatives Data Shows

Derivatives metrics still lean bullish. The long-to-short ratio on CoinGlass sat at 1.03, meaning more traders are positioned for upside than downside.

Funding rates have also turned positive, reading 0.0042%, which means longs are paying shorts — a sign of bullish positioning.

However, not all signals are green. Social dominance for HYPE has been trending down since June 17, sitting at 0.175%. Spot ETF inflows have also gone quiet this week, pointing to softer institutional interest.

CryptoQuant data shows retail participation picked up after HYPE hit its record high of $76.90 last week. Both spot and futures markets are showing signs of overheating, which could limit how quickly HYPE recovers.

If buyers hold $58–$60 and market conditions improve, the next resistance is around $70. Clearing that would put the $75–$80 zone back in range.

Hyperliquid’s RSI sits around 53 on the daily chart — neutral territory — while the MACD remains slightly negative.

The 200-day EMA at $44.68 represents a deeper support level if the current floor breaks.

The post Hyperliquid (HYPE) Price: Whales are Buying the Dip — Is $80 Still on the Table? appeared first on CoinCentral.