Whales accumulate Hyperliquid during the dip, not the rally – Why?
Hyperliquid's large holders (whales) have aggressively accumulated over $21.5M worth of HYPE during the recent price decline, not during rallies, indicating strong conviction. This accumulation, combined with persistent negative exchange outflows, suggests selling pressure is being absorbed and available supply is shrinking. Price action shows HYPE compressing within a descending wedge near key support around $22, with oversold conditions and weakening bearish momentum. Top trader positioning leans long, and funding rates have stabilized, indicating a leverage reset. These converging factors—whale buying, reduced sell supply, cooling leverage, and chart compression—significantly alter the risk profile near support, increasingly favoring a potential relief-driven reversal rather than further downside.
ambcrypto12/23 18:03