Only 3% away from the all-time high, is HYPE truly breaking through this time or just pretending?

First look at the surface: positive news is flooding in, but the price just can't break through that 75.5 resistance level.

In the past 24 hours, it has risen 10%, from 65.7 directly to 73.4, trading volume expanded to 1.8 billion, Vol/MC ratio reached 8.5%, capital activity is at its peak. Weekly up 18%, monthly up 60%, doubling within the year—HYPE is one of the strongest assets in the market this year.

First thing: on the day of SpaceX IPO, HYPE proved it’s not a “casino.”

On June 15, SpaceX went public. Traditional markets were chaotic, with issues in pricing, matching, and liquidity.

But on Hyperliquid, the SpaceX pre-IPO perpetual contract traded over $1.2 billion, with prices closely matching the actual opening price.

RWA is one of the biggest narratives for 2026. And HYPE has already run this story.

What does Wall Street want most? On-chain pricing power. HYPE is fighting for exactly that.

Second thing: ETF money is still flowing in continuously.

Weekly net inflow of $160 million, total holdings now account for over 1% of market cap.

ETFs are buying every day, platforms are buying back and burning daily, and circulating supply is limited. The supply and demand are undergoing a fundamental change—buying is ongoing, selling is one-off.

Third thing: $1.1 billion buyback and burn, this is not just talk.

97-99% of platform trading fees go directly into the fund, automatically buy back HYPE on the open market and burn it. So far, over $1.1 billion has been bought back and destroyed.

This is not a deflation narrative; it’s a deflation reality. Supply is visibly shrinking, and the price center can only move upward. As long as Hyperliquid remains the king of perpetual contracts, this flywheel won’t stop.

Bull-bear showdown, see for yourself

One side:

SpaceX IPO traded 1.2 billion on the day, validating RWA pricing ability

Weekly ETF inflow of 160 million, institutional funds continuously entering

Over 1.1 billion bought back and burned, real buying support

Only 3% away from ATH, breakthrough equals price discovery

Vol/MC ratio 8.5%, capital activity extremely high

The other side:

Failed to break 75.5 three times, huge psychological pressure

Profit-taking at high levels could hit anytime

Had a 30-50% retracement in the past six months

If BTC pulls back, HYPE will fall even harder

Key level at 73.4, only 2 dollars away from ATH at 75.5.

Resistance above: 75.5-76 (ATH) → 80 → 85-90

Support below: 70-68 → 65-66 (strong support)

Short-term traders:

Wait for a pullback to 70-71 to enter, or wait for a volume breakout above 75.5 to chase long. Stop loss below 68. First target 80, second target 85-90.

Swing traders:

Already in, hold steady. After confirming a breakout above 75.5, add to your position, target 100. If you haven't entered yet, 68-69 is your last cheap entry point. Stop loss at 65.

Long-term believers:

The 60-65 zone is gone. If you haven't entered, wait for a pullback to 68-70 to build a core position. Target 150 by the end of 2026, betting on RWA pricing power + ETF inflows + buyback flywheel. But if BTC crashes suddenly, run first.

HYPE now is like SOL at the end of 2023—

99% of people thought “it’s already peaked from 3 to 60,” but then it went to 200.

It’s not that HYPE is too expensive; it’s that your perspective is too narrow. #我的Gate交易时刻 #TradFiCFD黄金大师赛 #Gate现货交易量逆势增长增幅全球第一 $BTC $SOL $HYPE