Arthur Hayes Goes Long on Hyperliquid As Market Structure Shifts Bullish

Key Insights

• Arthur Hayes dumped multiple altcoins, including PENDLE, ENA, and LDO, to buy Hyperliquid.
• Hyperliquid crypto price action was gradually shifting to the buy side on the daily chart.
• Buying pressure was increasing as more UDSC was exchanged for HYPE.

Arthur Hayes, the co-founder of the BitMEX exchange, has been consistently vocal and does not shy away from stating which coins he sees as great to invest in. Coins with his mentions tend to rally shortly after, even though these gains are subject to market cycles.

With that in mind, the veteran trader has also faced liquidations just like all other traders. However, his recent move could be one to watch. Arthur Hayes is buying Hyperliquid (HYPE) crypto at a time its market structure is shifting. Is this a sign to go long, too?

Arthur Hayes Dumps Multiple Altcoins for HYPE

Diving into the details, Arthur Hayes sold all his PENDLE, ENA, and LDO token holdings and is now focusing only on HYPE. He deposited 327,869 PENDLE worth $502,000 and 3.6 million ENA worth $499,000 into FalconX in the last 24 hours, along with LDO sales.

Following these activities, he bought 57,881 HYPE tokens for $1.91 million. He holds a total of 131,807 HYPE tokens, which were worth $4.33 million when writing. Hayes’ high-conviction trade was attracting a lot of attention, even as the broader crypto market struggled with weak momentum.

Because of this, his rotation could change how traders see HYPE, bringing back hope even when the market is going down. In the end, this move puts HYPE in a good position to gain momentum or lose more ground, depending on how prices move. Its future path is still open to either direction.

That brings the analysis to numerical valuation, which could offer insights into Hayes’ decision to sell multiple altcoins for HYPE.

What Drove Hayes’ Decision? Is Price Action The Answer?

The price action on the daily chart for Hyperliquid crypto moved to the buy side after the price broke out of a falling wedge that had been in place for a month and a half. Following a strong bullish expansion from the $21–$22 zone, the series of lower highs became no longer valid. This pattern indicates that the market was absorbing demand.

The volume profile on the right showed heavy buying and selling between $25 and $33, confirming this zone as a new value area. HYPE price was holding steady above VWAP at around $36, affirming the aforementioned strength.

If demand stays high, HYPE could spike by about 56%, reaching the $45.36 supply zone. This was in line with previous high-volume nodes. If momentum slowed down, though, a pullback toward $28.93 was still possible; it would turn the move into a range expansion instead of a continuation.

A daily close below $28 would hurt the buy side, but acceptance above $36.74 would keep the upside pressure on. This explained why Arthur Hayes went long on the altcoin, as it was evident from other buyers.

Buying Pressure on Hyperliquid Crypto

Smart DEX traders were also driving the buying pressure. For instance, a wallet aggressively bought HYPE, spending $336,000 across two orders. The transactions happened very quickly, one after the other, around the same period Hayes was going long.

First, $240K USDC was exchanged for HYPE, and shortly after, $96K worth of WSOL was swapped. This activity took in supply without raising prices. These moves added almost 10,000 HYPE to the wallet at a price of about $34 per token.

This was clear evidence that buying pressure was rising, even though the market was still struggling. It was clear that smart money saw value here and was quietly building positions to help stabilize sentiment.

When whales gather like this, it often signals confidence, which could help support uptrends and boost optimism. However, the altcoin remained volatile, and its direction remained unclear.

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