HYPE's new high is a bit significant, driven by both buybacks and institutional holdings; short-term pullback is normal, the trend is still intact.

According to The Cryptonomist, Hyperliquid (HYPE) has recently gained strength, reaching a new high of $64.27 on May 24. It has fallen 2.3% in the past 24 hours, but has increased 29.2% over the past week, 49.6% over 14 days, and 49.5% over a month, with a gain of over 60% since the end of May 2025. Analysts say that the launch of ETFs, the exposure of SpaceX IPO, and large holdings disclosed in Goldman Sachs' 13F filings have driven the rise, along with ongoing buyback mechanisms boosting confidence, and these factors are unrelated to external investors.