While Bitcoin struggles to regain bullish momentum, Hyperliquid price continues to display remarkable strength, holding firmly above the newly established $72 support level. Following a massive 96% rally in May, HYPE’s price is now consolidating gains while attracting aggressive whale accumulation. Data shows three likely whale wallets withdrew millions of HYPE tokens as the price remained stable above $70, signaling strong conviction among large investors. The token continues to outperform a weak broader market, suggesting sustained capital rotation into the Hyperliquid ecosystem.
Despite the bullish backdrop, a prominent crypto commentator has exited his entire HYPE position, raising questions about the token’s next move. Could Hyperliquid be headed for a deeper correction, or is this simply a pause before the next leg higher?
Whales Withdraw Nearly $55 Million Worth of HYPE
On-chain data reveals aggressive whale accumulation despite growing market uncertainty. According to the latest data, a newly created wallet, 0x193, withdrew 180,000 HYPE worth roughly $13.4 million from Coinbase within the past few hours. Meanwhile, three likely linked wallets—0x8bD, 0x5CF, and 0x918—withdrew an additional 557,406 HYPE valued at around $41.5 million from Kraken before moving the tokens into staking.
In total, these wallets accumulated 737,406 HYPE worth nearly $55 million, highlighting strong conviction among large holders. More importantly, the transfers were directed toward self-custody and staking rather than exchanges, reducing the immediate liquid supply available for sale. Such accumulation during a period of market weakness suggests whales remain confident in Hyperliquid’s long-term outlook and could be positioning for another major move once volatility subsides.
HYPE Eyes Higher Targets as Bulls Defend Key Breakout Zone
The weekly chart suggests Hyperliquid price remains firmly in a bullish market structure despite the recent consolidation. After rallying nearly 96% in May, HYPE has successfully reclaimed and defended the 1.0 Fibonacci extension level near $75.7, while continuing to hold above the newly established support zone around $70–$72.
The technical setup indicates the recent pullback is more likely a cooling phase than a trend reversal. Supporting this view, the weekly RSI remains elevated near overbought territory, reflecting strong momentum, while the Chaikin Money Flow (CMF) has turned positive again, signaling fresh capital inflows into the asset.
As long as HYPE maintains support above $70, the broader uptrend remains intact. A decisive breakout above the recent highs around $75–$76 could open the doors for a move toward the next Fibonacci extension target at $83, representing roughly a 15% upside from current levels. If bullish momentum accelerates, an extended rally toward $93.6 remains a possibility in the coming weeks.
However, a weekly close below the $70 support zone could weaken the bullish structure and trigger a deeper retracement toward the $61.5 region, where the next major support lies.
Wrapping it Up—Will HYPE Price Reach $100?
Hyperliquid continues to stand out in a fragile crypto market, with strong price resilience, aggressive whale accumulation, and bullish technical indicators supporting the uptrend. While some market participants are taking profits amid macroeconomic uncertainties, on-chain activity suggests large investors remain confident in HYPE’s long-term prospects.
As long as the price holds above the crucial $70 support zone, the path of least resistance remains to the upside. The price range between $83 and $93 emerges as the next key level to watch, as a breakout from here could lead the rally to $100.
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