HYPE mirrors Bitcoin’s rally – What this BTC correlation means
The post HYPE mirrors Bitcoin’s rally – What this BTC correlation means appeared on BitcoinEthereumNews.com. HYPE rallied 14.72% in 24 hours, jumping from $26.13 to $30.45 amid strong market correlation with Bitcoin. Hyperliquid led all chains in daily fees with $3.2M, while Annualized Fees topped $639M for the month. Hyperliquid [HYPE] has remained one of the best-performing assets in the past 24 hours, following a 14.72% gain. Market analysis suggested that it may retain this trajectory, as its recent movement aligns with Bitcoin’s rally. Further insight reveals that both trading and on-chain activity are heavily skewed in HYPE’s favor. HYPE could correlate with Bitcoin Following Bitcoin’s all-time high, only a few tokens have mirrored this upward trend, HYPE among them. AMBCrypto’s analysis links HYPE’s recent move to whale activity, particularly among those holding significant liquidity and using Hyperliquid—its native platform—for large futures trades. Whale action led the charge. The most impactful trigger appeared to be a $1.07 billion long position, now up $28 million in Unrealized PNL. Source: CoinGlass Large trades like this often spark confidence among retail investors, who see strong potential in HYPE. As a result, the altcoin has risen from a low of $26.13 on the 20th of May to a current price of $30.45. On top of that, market sentiment leaned bullish. Longs made up 51.17% of positions, edging out shorts at 48.83%. Does trading activity match the bullish sentiment? Trading activity shows a positive correlation that could further drive HYPE’s growth. According to Artemis, Hyperliquid generated the highest Trading Fees in the past 24 hours, closing at $3.2 million. Source: Artemis This trading activity reflects surging interest across its ecosystem. Over the last 30 days, Annualized Fees surpassed $639 million, representing a 37.24% increase in price. Meanwhile, Staked HYPE rose to 423.4 million, reducing the available circulating supply just as demand spiked. Source: Artemis This dynamic could trigger a supply…
The post HYPE mirrors Bitcoin’s rally – What this BTC correlation means appeared on BitcoinEthereumNews.com.
HYPE rallied 14.72% in 24 hours, jumping from $26.13 to $30.45 amid strong market correlation with Bitcoin. Hyperliquid led all chains in daily fees with $3.2M, while Annualized Fees topped $639M for the month. Hyperliquid [HYPE] has remained one of the best-performing assets in the past 24 hours, following a 14.72% gain. Market analysis suggested that it may retain this trajectory, as its recent movement aligns with Bitcoin’s rally. Further insight reveals that both trading and on-chain activity are heavily skewed in HYPE’s favor. HYPE could correlate with Bitcoin Following Bitcoin’s all-time high, only a few tokens have mirrored this upward trend, HYPE among them. AMBCrypto’s analysis links HYPE’s recent move to whale activity, particularly among those holding significant liquidity and using Hyperliquid—its native platform—for large futures trades. Whale action led the charge. The most impactful trigger appeared to be a $1.07 billion long position, now up $28 million in Unrealized PNL. Source: CoinGlass Large trades like this often spark confidence among retail investors, who see strong potential in HYPE. As a result, the altcoin has risen from a low of $26.13 on the 20th of May to a current price of $30.45. On top of that, market sentiment leaned bullish. Longs made up 51.17% of positions, edging out shorts at 48.83%. Does trading activity match the bullish sentiment? Trading activity shows a positive correlation that could further drive HYPE’s growth. According to Artemis, Hyperliquid generated the highest Trading Fees in the past 24 hours, closing at $3.2 million. Source: Artemis This trading activity reflects surging interest across its ecosystem. Over the last 30 days, Annualized Fees surpassed $639 million, representing a 37.24% increase in price. Meanwhile, Staked HYPE rose to 423.4 million, reducing the available circulating supply just as demand spiked. Source: Artemis This dynamic could trigger a supply…
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