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Market declines, $HYPE rises
This pattern has been repeatedly appearing these days, which already indicates a problem
$56 held the line, rebounded from the low to $62 today, +6.7% intraday
Why is it strong?
Hyperliquid perpetual contracts on-chain trading volume has been competing for CEX market share, business data is not bad
Market decline is due to macro pressure, BlackRock withdrawal, ETF outflows, HYPE is falling due to sentiment, not fundamentals
Funding rates are not high, long-short ratio is balanced, this rebound was not driven by leverage, the structure is relatively clean
How to view it now?
$62-64 is the previous high resistance zone, today has already touched the edge. Chasing at high prices has limited value, a pullback to $58-59 to confirm support is a better entry window
If the market continues downward, even if HYPE is strong, it can only be relatively anti-dip, don’t expect an independent trend
Mid-term logic remains intact, if on-chain trading volume continues to grow, this price range is reasonable
DYOR, not investment advice