Recently, HYPE has experienced institutional accumulation and ETF-related expectations, resulting in a clear technical reversal in price and volume structure. $42 serves as a key support level; a short-term bullish bias is maintained, with attention on trend shifts between bulls and bears in the $43.5–$45 range. Increased volatility is being driven by large capital flows. The fully diluted valuation (FDV) is high, so future unlocks and project dependency risks require caution. Flexible trading strategies, strict position management, and stop-loss discipline are recommended. For the mid to long term, focus on whether capital inflows and ecosystem growth are sustainable, while avoiding overvaluation and liquidity risks.

In recent months, HYPE found repeated support in the $35–$36 range since late March. Increased trading volume in early April accompanied a bottom reversal, with consecutive large daily gains pushing the price to a high of $45.3 on the 14th, followed by a minor pullback to $43.5, reflecting strengthening upside momentum. The wave structure indicates that the fourth wave correction is likely nearing its end, with bulls and bears actively contending near key resistance. Short-term sentiment has shifted from bearish to bullish. It is advisable to watch whether support near $42 holds and apply support-resistance strategies for short-term positioning.

Last week, Bitcoin continued to fluctuate within a range, aligning with previous predictions. This week, focus is on two main points: HYPE's Wave IV correction nearing completion with strong bottom signals, presenting a buying opportunity; and Bitcoin maintaining its mid-term bearish trend with range-bound trading expected. Strategies include short-term trades based on support/resistance and model signals, while holding existing mid-term short positions.

Short-term volatility in Bitcoin is unlikely to change the medium-term bearish trend; HYPE reappears as a good opportunity for long positions | Guest Analysis

Cryptocurrency prices are rising, with Ethereum nearing $2,400 and Bitcoin approaching $75,000, driven by what is referred to as "The grand deal." Ether, HYPE, and Solana are leading this upward trend following the recent significant agreement in the US.

Why is Crypto Up? Ether, HYPE, and Solana Lead Following US Grand Deal

On-chain data shows that since mid-March, core institutions and large holders have continuously accumulated HYPE. A single-strategy institutional address now holds over 18 million tokens, a significant share of total supply. Meanwhile, whales are seeking to take profits at key resistance levels; for example, one whale with an average cost of $39.25 currently sits on nearly 50% unrealized gains and plans to gradually sell above $43.5. In contrast, another large holder quickly added to their position at $44.3, reflecting alternating buy and sell impulses and underscoring the dominant influence of large capital in mid-to-high price range trading dynamics.

Hyperliquid Strategies Inc has recently purchased 220,000 HYPE tokens worth approximately $8.58 million since March 19, according to hypurrintel data. The company currently holds 18.82 million HYPE tokens valued at about $738 million and maintains a cash reserve of $112.6 million.

HYPE treasury company Hyperliquid Strategies Inc recently increased its holdings by 220K HYPE, valued at approximately $8.58M.

A whale with the address starting 0xa6e recently closed a BTC long position of 200.5 BTC, worth about $14.2 million, at an average price of $71,116. Shortly after, the same address placed sell orders for HYPE tokens, planning to take profits above $43.5. The current HYPE holdings are valued at $9.84 million with an average price of $39.25, showing an unrealized gain of $620,000 (48%).

A certain whale has longed BTC worth tens of millions and placed an order to take profit on HYPE long positions above $43.5.

On April 14, a whale deposited 2.4 million USDC into Hyperliquid and purchased 54,157 HYPE tokens at a price of 44.3 USD each, according to on-chain analyst Onchain Lens.

A whale deposited 2.40 million USDC into Hyperliquid and purchased 54,000 HYPE.

Since October last year, the top whale holding a long position in HYPE has seen an $8.4 million profit as HYPE's price surged near $45. The whale initially built a large long position before HYPE's Robinhood listing, holding through price fluctuations and a maximum unrealized loss of nearly $20 million. Currently, the whale holds a $61.6 million 5x leveraged long position at an average price of $38.67, with a 66.5% floating return.

Since going long on HYPE last October, the top 1 whale holding a long position has finally realized a profit of $8.4 million.

Recently, multiple institutions have expanded into DeFi and derivatives, with Bitwise submitting a new ETF application focused on HYPE. Protocol fee revenues are being used for buyback mechanisms, strengthening value support. Platform market share is approaching 73%, with weekly trading volume showing double-digit percentage growth. Market demand is rising for compliant products and highly liquid assets. On the macro front, easing geopolitical risks alongside continued hawkish central bank stances have supported a rebound in risk assets. Institutions are showing growing willingness to allocate to crypto assets, which could bring additional capital inflows to HYPE.

BitMart Research Weekly highlights easing US-Iran tensions and a hawkish shift in the Federal Reserve, driving a rebound in risk assets including crypto. US stocks, especially AI-related sectors, show strong recovery amid geopolitical risks. Inflation data signals potential upward pressure if oil prices stay high. Crypto markets follow US stocks with BTC and ETH leading, while altcoins remain volatile. Institutional inflows into Bitcoin ETFs and MicroStrategy’s increased BTC holdings indicate long-term confidence.

BitMart Research Institute Weekly Hotspot Analysis: US-Iran Easing Combined with Fed's Hawkish Shift, Crypto Market Follows Rebound to Form a Bottom

Renewed bullish momentum in Hyperliquid is driven by significant whale accumulation, including Arthur Hayes purchasing $HYPE tokens, and Bitwise's updated filing for a Hyperliquid ETF (BHYP), signaling potential institutional inflows. The HIP-3 protocol's commodity trading generates record fees, funding token buybacks that strengthen value. Trading around $42 with 12% weekly growth, Hyperliquid benefits from technological adoption, influential backing, and regulatory progress, positioning it as a DeFi leader.

Hyperliquid Bullishness Surges Again — What’s Driving the Renewed Momentum?

$HYPE, the native token of the Hyperliquid DeFi platform, has surged 8.8% in 24 hours and 22.55% over a week, outperforming the top 10 cryptocurrencies by market cap. Hyperliquid leads the decentralized perpetual DEX market with a 73% share and surpasses Coinbase in derivatives volume. Factors driving growth include deflationary token mechanics, institutional interest via Bitwise’s spot ETF, developer attraction, and high liquidity. Upcoming events like US ETF approvals, new transaction fees, platform integrations, and a token unlocking on May 6 may further boost $HYPE’s value.

Why HYPE Is Outpacing the Top 10 Crypto Giants Right Now?

Although short-term catalysts from institutions and positive market sentiment have been constructive, the current $4 billion FDV appears high relative to actual demand, which could increase selling pressure upon future large unlock events. In addition, concerns over heavy project dependency, potential security risks, and insufficient marginal buying demand remain. If regulatory or ecosystem expansion progresses slowly, mid- to long-term downside risks should not be overlooked. Investors are advised to seize trading opportunities while strictly controlling position sizes and stop-losses, and to remain vigilant regarding liquidity and valuation risks.

Crypto analyst Catrina Wang argues that HYPE, despite being an impressive project, is unlikely to double its current $40 price given its $40 billion FDV. Key concerns include significant token unlock-induced selling pressure, lack of marginal buyers, escalating hacker risks, and critical personnel dependency. She highlights that HYPE's valuation surpasses comparable exchanges and questions its sustainability without substantial new demand, urging caution despite market hype.

Contrarian View: Why HYPE Won't Double in Value?

Hyperliquid

Midnight (NIGHT) on Its Way to All-Time Low: What's Next? Hyperliquid's (HYPE) Historical Breakthrough, Ethereum (ETH) Can Hit $3,000, But There's a Catch: Crypto Market Review

Why Is Crypto Up Today? Cooling Inflation and Fed Rate Cut Bets Spark Market Rally

ECB’s Lane says persistent inflation could still force rate hikes

Goolsbee: The Federal Reserve may not cut interest rates until 2027.

Ethereum briefly surges to $2,400 as geopolitical relief boosts crypto, stocks

HYPE outflows rise after $2.4 million buy: Will this reduced supply push price toward $60?

Top crypto market predictions today: HYPE, XRP, and Algorand

Dollentz: The European Central Bank will raise interest rates if the inflation impact lasts longer.

The probability that the Federal Reserve will keep interest rates unchanged in April is currently 99.5%.

The probability of the Fed cutting rates once in 2026, as traded on Kalshi, is only 24.8%.

Bybit-eu

Live chart for Hyperliquid to USD conversion. Check out HYPE to USD prices in real time. Convert, buy, sell, and trade Hyperliquid on Bybit-eu.

Hyperliquid Price: HYPE Live Price Today | HYPE Market Cap & Chart Analysis | Bybit-eu

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HYPE price today is 44.14, with a live price change of -0.97 in the last 24 hours. Convert, buy, sell and trade HYPE on Bybit-eu.

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