Hyperliquid Price rose 4% to $60.93 in 24 hours, outperforming a flat Bitcoin market on Thursday.
This occurred when the price of Bitcoin was steadied over $63,000, and Ethereum was trading in the $1,600 area.
HYPE has gained almost 50% over the last one month, aided by increased trading volume and confidence in the market.
Fresh demand followed Kalshi’s launch of CFTC-regulated HYPE perpetual futures for U.S. traders on June 12, 2026.
The recent rally was also preceded by the introduction of perpetual trading on Hyperliquid and Trade.xyz infrastructure by Fomo.
The platform now allows its users to trade equity, pre-IPO, crypto, index, and commodity perpetual contracts all under a single platform.
Such growth has brought Hyperliquid more in touch with larger speculative markets, such as pre-IPO exposure.
Arthur Hayes Flags SpaceX IPO Risks
Arthur Hayes further put his attention when he referred to the SpaceX IPO as a classic crypto grift.
He cautioned that the insiders might start selling into retail demand as early as July.
His remarks came as traders bet on SpaceX exposure using Hyperliquid synthetic SPCX perpetual market.
The implied valuation of the market data observed in hyperliquid data indicated an increase in the implied valuation of the company above the IPO price.
LATEST: ⚡ Arthur Hayes called the SpaceX IPO “a classic crypto grift,” predicting insiders will start dumping on retail traders in July. pic.twitter.com/yPAMiEeS53
— CoinMarketCap (@CoinMarketCap) June 12, 2026
That has provided a focus to the speculative flows and has drawn more focus to Hyperliquid-linked markets.
Currently, HYPE is backed by the regulatory momentum, enhanced access, and the SpaceX-related trading demand.
When purchasing pressure persists, the next higher resistance levels can be aimed at by the bulls in the following sessions.
Nonetheless, the price might revert to the recent support levels due to a weaker sentiment.
Hyperliquid HYPE Open Interest Climbs as Trader Activity Grows
The activity in hyperliquid HYPE derivatives reinforced as traders increased exposure in key areas in the market.
Trading volume increased by 1.71% to $3.89 billion, indicating revived demand. Open interest increased 4.27% to $2.57 billion indicating new positions were added to the market.
Open interest increases indicate greater investor commitment, rather than turnover. Market participants can now observe whether the volume is growing further to ensure that it is a continued momentum.
Nevertheless, volatility may also rise with the increase of the open interest in case the sentiment shifts rapidly.
Is Hyperliquid Price Targeting $70 as Momentum Improves?
The HYPE price shot up to $60 as traders defended a short term advancing channel. The trend was preceded by a reversal at the 55 support area, where the demand came back.
The position maintains the short-term perspective positive as long as the HYPE remains above $55. A clean break above 65 might be the gateway to the next upside target of about 70 as per the full HYPE forecast report.
The RSI was around 56 indicating greater momentum but without indicating overheated markets.
Chaikin Money Flow was a little positive with 0.01. This indicates weak capital inflow but buyers still require higher volume.
If HYPE price loses the $55 support, sellers may target the $50 zone next. Additional fracture will undermine the existing recovery system.
For now, traders are watching the $65 resistance level. Breaking out of that region would establish further bullishness to $70.
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