HYPE’s rally is flashing exhaustion near its record-high resistance, raising the risk of a 20% pullback toward the $51.5–$45 support zone.

Hyperliquid's HYPE token nears its all-time high as derivatives open interest hits $9.4B, fee revenue dominates crypto, and short squeeze conditions build.

Hyperliquid is trading just 2.5% below its all-time high as Grayscale, Galaxy and an a16z-linked wallet collectively accumulated HYPE.