Overview
- HYPE traded around $75 on Oct. 25 and is probing the $74–$76 support zone while daily momentum indicators show bearish readings that point to near-term selling pressure.
- Hyperliquid’s Assistance Fund has continued open-market purchases and holds about 48 million HYPE, with roughly $63–$64 million bought in the most recent 30-day window.
- U.S. spot Hyperliquid ETFs have cooled recently and the three funds still hold about $390 million in net assets, while centralized exchanges recorded net HYPE withdrawals of roughly $2.47 million on Oct. 25, reducing on-exchange liquidity.
- Derivatives risk remains high: futures open interest sits near $3.07 billion and tracked positions are heavily long, which can trigger leveraged liquidations that amplify downward moves if price breaks support.
- A scheduled core-contributor unlock of about 9.92 million HYPE on Nov. 6 and a modest decline in TVL to roughly $8.2 billion add a supply-side headwind that could force price action or increase pressure on the Assistance Fund to maintain buybacks.