Hyperliquid’s HYPE Plummets: Whale Dumps 215K Tokens, Is the Market Doomed? 🐳📉

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  • A Hyperliquid whale offloaded 215,850 HYPE, incurring a $290K loss. 🐳💰
  • HYPE’s Daily Token Trading Volume plummeted to $143.3 million, the lowest in over three months. 📉📊

Ever since hitting an all-time high of $45.7 three weeks ago, Hyperliquid [HYPE] has been floating aimlessly in the vast, uncharted waters of the crypto market, oscillating between $38 and $41 with all the enthusiasm of a sloth on a Sunday afternoon. 🦥🌊

Price action? Flat as a pancake. On-chain energy? About as lively as a deflated balloon. 🎈🚫

Buyers vanished — What’s left is just the echo

According to Artemis, the Daily Token Trading Volume has collapsed to $143.3 million—a three-month low. That’s not just low interest; it’s a full-blown market vacuum. 🌀🚫

This suggests that investors have taken a step back from the market, possibly to grab a cup of tea and reconsider their life choices. 🍵🤔

Meanwhile, existing holders are panic exiting, with large whales leading the exodus. 🐳🏃‍♂️

Hyperliquid whale dumped 215,850 HYPE

According to Onchain Lens, a whale sold all 215,850 HYPE for $8.37 million, recording a $290K loss in the process. 🐳💸

When holders decide to sell at a loss, it’s usually a sign that they’ve lost faith in the market and are afraid of even greater losses. This particular whale, it seems, has grown impatient and decided to cut its losses before the market turns into a black hole. 🌌🚫

The move dragged the Weighted Sentiment to -1.229, a monthly low. This wasn’t profit-taking; it was a desperate attempt to avoid a financial supernova. 🌟🚫

Futures cool off, and bears creep in

Meanwhile, the derivatives market isn’t faring much better. HYPE’s Perpetual Volume has declined to $2.436 billion from a recent high of $8.7 billion. 📉📊

This drop suggests that fewer traders are actively participating in leverage-based speculation, as the appetite for directional bets has plummeted faster than a rock in water. 🪨🌊

Interestingly, those left in the futures market are mainly betting on prices to decline in the short term. The Funding Rate has flipped negative to -0.0006 on Coinalyze, a clear shift in market sentiment. 📉🚫

But here’s the twist: despite the bearish lean, there’s no real momentum. Just quiet positioning—and that’s often when the market decides to throw a surprise party for everyone. 🎉🚫

A drift lower or a violent squeeze?

According to AMBCrypto’s analysis, HYPE holders are taking a step back from the market as bearish sentiments strengthen. 📉🚫

The Stochastic RSI has dropped to 62.10 after a bearish crossover from 74.12, and the Relative Vigor Index has dipped to 0.0917, confirming the market’s weakness. 📉🚫

When these indicators come together, they point towards a price breakdown. If these conditions persist, HYPE could drop to $36.8. However, if sentiment flips, a bounce could liquidate shorts, causing the price to spike to $41. 📈🚫

So, the next move depends entirely on how spot buyers react to the market. Will they step in and save the day, or will they let the market drift into the abyss? Only time will tell, and as always, the market is full of surprises. 🕰️🚫

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2025-07-06 16:12