Hyperliquid Token Slumps 13% Amid Double-Top Pattern and Hawkish Fed Stance

The Hyperliquid token (HYPE) has dropped over 13% from its all-time high of $76.70, following a wave of profit-taking and a newly formed double-top pattern on the four-hour chart.

According to crypto.news data, HYPE's price fell to an intraday low near $65.7 on June 19, extending losses from its June 16 all-time high.

The decline has unfolded alongside a risk-off move across digital assets after Federal Reserve Chair Kevin Warsh reinforced a hawkish policy stance during his first meeting at the helm of the U.S. central bank, strengthening the dollar and pressuring speculative assets.

A double-top pattern on the four-hour chart puts key support levels near $65 and $62 in focus, with momentum indicators weakening as the MACD has crossed lower and Chaikin Money Flow has slipped into negative territory at approximately -0.06.