Key Takeaways
Institutions and whales were shorting Hyperliquid like it’s Monday. Still, the altcoin’s soul was bullish, with OI and DEX whispering secrets of strength.
Hyperliquid [HYPE] danced above the open price of $43 to flirt with $45, a day’s work for a crypto that’s seen better days. Market cap clung to $15 billion like a toddler to a teddy, with daily drawdowns less than 1%-because even chaos needs a nap.
Since the $51 high, HYPE slid into a downward spiral, probably plotting revenge on its XPL token. Whales, ever the drama queens, triggered liquidations that made risk managers cry into their coffee cups.
Big players shorting HYPE: A Whale’s Worst Nightmare
While Hyperliquid wobbled near $40, whales and institutions shorted it like it owed them rent. Classic crypto: a seller’s market where everyone’s a villain. At least the sentiment was “seller-biased”-a fancy way of saying “panic mode.”
A whale recently shorted HYPE for $3 million, probably while sipping champagne and muttering, “This’ll be my year.” But at $42.82-$43, the whale’s unrealized loss? $28k. Ouch. Even whales can misjudge the tide.
Abraxas Capital, the Wall Street of crypto, bet against HYPE with a $64.39 million sell position and 5x leverage. For context, they also shorted BTC, ETH, SOL, and SUI with 10x leverage-because why not bet against the entire ecosystem? Roll the dice, lose your shirt, and call it “strategic.”
Price Action: The Ultimate Drama Queen
Hyperliquid’s price was stuck in a love triangle: below a rising trendline, above the SuperTrend, and oscillating like a indecisive teen. Since July 14, it’s been trapped between $36 and $50, a range so tight it’s like wearing a corset made of dollar bills.
Three failed attempts to break $50? HYPE’s crying in the corner. But hey, it’s making higher lows-proof that even a broken clock is right twice a day.
Chaikin Money Flow (CMF) at -0.25? Capital’s fleeing like it’s the last subway car. The $36 level is now HYPE’s “make or break” moment-either it breaks through to $50 or becomes a cautionary tale for day traders.
Hidden Power: The Secret Sauce?
Onchain data whispered of hidden strength: OI at $1.84B (down from $2.06B, but hey, every dip is a chance to buy low). And DEX volume hit $398B in a month-because nothing says “strength” like moving $1.2B in 24 hours while looking like a sleepy turtle.
bullish in the long run, but stuck in a range that’s tighter than a bear market. Traders, watch the whales like hawks-because when they fall, the market dances on their skeletons. 💸
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2025-09-03 06:03