HYPE rockets 11% as Bitcoin climbs – But what happens if $40 fails again?

HYPE’s rising fast – but is a shakeout next?

• HYPE has surged nearly 11% to reclaim the $39 level, edging closer to its all-time high. 
• Could this set the stage for a quick shakeout as leveraged longs get squeezed?

When it comes to Hyperliquid [HYPE], it’s starting to look like traders have been waiting for Bitcoin [BTC] to blink just so they could pounce. 

On the 9th of June, BTC printed its longest green candle in a month, up 4%. And right on cue, HYPE followed with an explosive 11.22% surge, smashing through $39 and closing the day at $39.171.

This marks the second time in June that HYPE has taken a swing at the $40 resistance. The last two attempts? Both got smacked down by broader market weakness, dragging HYPE into the red.