Following weeks of volatility, net inflows into HYPE perpetual markets increased by more than 785% across key trading intervals, according to recent futures flow data, indicating a resurgence of speculative interest.
Hyperliquid shouldn’t be underestimated
The action comes as HYPE continues to outperform the majority of significant cryptocurrency assets over longer time periods. The token is still up more than 173% over the last 180 days and more than 160% so far this year, despite recent market turbulence. Buyers continue to intervene forcefully whenever the price gets close to significant support zones, even after a string of severe corrections.
Technically speaking, HYPE is still one of the best-looking charts available. Before entering a healthy consolidation phase, the asset recently printed highs close to $76. Right now, the price is comfortably above all major moving averages, at about $68. The broader uptrend is still in place because the 50-day moving average is close to $57, and the 100-day and 200-day averages are much lower.
The latest move is especially intriguing because of the way derivatives traders are acting. According to futures flow data, a significant amount of capital is entering the market; in one reporting interval, net inflows increased by almost 785%. Major exchanges like Binance, Bybit, OKX, and Hyperliquid itself continue to have high levels of open interest, suggesting that traders are actively positioning rather than withdrawing.
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Additionally, liquidation statistics show a significant shift. Over $12 million in positions were liquidated in the past 24 hours, with long liquidations making up the bulk of that total. Despite this, HYPE was able to maintain important support levels and bounce back, indicating that willing buyers absorbed the forced selling rather than triggering a wider collapse.
Long-short ratio is neutral
Another encouraging indicator is that the long-short ratio is still comparatively balanced. The current positioning does not yet point to extreme bullish overcrowding, in contrast to many speculative rallies fueled by excessive leverage. If momentum continues to build, there is potential for further gains.
Bulls need to retake the $72-$76 resistance area if HYPE is to challenge its recent highs. A successful breakout could pave the way for another leg higher and potentially set new all-time highs. The token would likely remain locked within a wide consolidation range if this level is not reclaimed.
As of right now, despite its recent decline, Hyperliquid appears to be among the best performers in the market due to its robust price structure, increasing derivatives activity, and significant futures inflows.
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