$70 HYPE, do you dare to buy the dip?

Arthur Hayes just called for $150, then sold all his HYPE holdings. While everyone is panicking and cutting losses, Bitwise bought $20 million in a day, and ETF inflows are nearing $36.4k. The big players have left, institutions are coming in—so is this the top, or a golden pit?

First look at the surface: big players are clearing out, retail investors are panicking.

On June 4th, Arthur Hayes liquidated all HYPE and NEAR, citing Middle East conflicts boosting energy prices, AI giants IPO siphoning funds, and Trump possibly adjusting AI policies. The price dropped from $76.9 down to around $66.

KOLs collectively mock, retail investors panic and place sell orders overnight.

But then look at another set of data:

Bitwise bought $20 million worth of HYPE in a single day, and staked $55 million. The three HYPE ETFs—Bitwise’s BHYP, 21Shares’ THYP, Grayscale’s HYPG—have accumulated nearly $183 million in net inflows since May.

Same news: Hayes called for $150, you chased high; Hayes liquidated, you cut losses—so I ask, who is actually buying?

First thing: Arthur Hayes liquidating has nothing to do with you.

Hayes probably bought HYPE below $20. He made a 3x profit and took profits, then moved on to the next target.

You panic and sell at $70, while someone else bought at $20—you're in the same market, but you're not doing the same trade.

Big players liquidating doesn’t necessarily mean the top; retail panic doesn’t mean the bottom.

Hyperliquid Strategies’ corporate treasury still shows huge unrealized gains, institutional holdings remain firm, they haven't run.

Second thing: this fundamental strength is mind-blowing.

Hyperliquid has accumulated $3.64 trillion in trading volume, with nearly $1 billion in revenue. Monthly trading volume is about $240 billion, annualized revenue close to $900 million.

And then? 97% of trading fees are used to buy back and burn HYPE.

Total buybacks exceed $2 billion, nearly half of last year's entire crypto token buyback activity. Over 46 million tokens have been burned.

Monthly active users grew 21.8% over five weeks, reaching 220k. DEX perpetual contract market share soared from 23% in January to 56.31%.

Translate into plain language:

The more profitable the platform, the more it buys back. The more it buys back, the less circulating supply. The less circulating supply, the more resilient the price.

This is a deflationary flywheel—the most straightforward model in the entire crypto market.

Third thing: technical analysis, the bulls are not dead.

From $76.9 retracing to around $66, with decreasing volume on the pullback and increasing volume on the rebound, the structure is healthy.

Key support at $64–66, buyers are actively defending this zone. EMA50 is supporting at around $68.

Analyst Ali Martinez points out that the next major upside target for HYPE is $97; if the rally continues, it could even reach $163 in the long term.

As long as $64–66 holds, the trend remains bullish. Breaking $77 could restart the price discovery process.

One side says:

Platform’s daily massive buyback and burn, continuous deflation model

Three US HYPE ETFs launched, institutional funds flowing in

Monthly active users skyrocketing, market share from 23% to 56%

Whales keep accumulating in the $66–70 range

Analysts see $97–$163

The other side says:

Arthur Hayes liquidated, KOLs collectively bearish

Monthly unlocks cause some selling pressure

BTC still oscillating around $63k, dragging overall sentiment

Short-term technicals need to digest profit-taking at high levels

Key level at $70, just 10% away from breaking $77.

Resistance above: $73 → $76.7 (ATH) → $80+

Support below: $68 → $65 → $60–62

Short-term traders:

Wait for a dip to $66–68 to buy in tranches, stop-loss at $64 (if broken, exit). First target: sell half at $73–75. Chase breakout above $77 with volume, stop-loss at $74, target $85–$90. Don’t chase high; if you buy at this level, a correction could wipe you out.

Swing traders:

Range between $65–$68, stop-loss at $62. Target $85–$100, add positions on breakout above $77. This is a high risk-reward zone.

Long-term believers:

DCA blindly, buy every month in the $65–$70 range. Target $150–$200. Betting on DeFi leaders + buyback flywheel + ETF funds flowing in continuously.

HYPE’s current situation is like SOL in 2023—

Rising from $8 to $200, experiencing countless “big players selling + unlocking dumps” scares. But what’s the result?

Every major rally uses the most terrifying ways to shake you off.

Arthur Hayes has sold, institutions are coming in. KOLs are bearish, but fundamentals are stronger.

$76.9 #我的Gate交易时刻 is not the top, just a comma.