Hyperliquid’s surge and renewed interest in AI-focused crypto projects are signaling a broader return of risk appetite in altcoins, says Michael van de Poppe.

Hyperliquid's HYPE token crossed $50 on Wednesday for the first time since September 2025, fueled in part by a high-profile call from Bitwise's chief investment officer.

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.