Hyperliquid Price Eyes $80 as Whales Accumulate Millions Amid Market Weakness

Crypto markets are under pressure as Bitcoin and Ethereum extend losses, but beneath Hyperliquid's 7% decline, large investors are accumulating millions of dollars worth of HYPE. On-chain activity shows whales purchasing significant amounts, including a whale buying 60,392 HYPE for approximately $4.18 million from Gate. This purchase has boosted the wallet's holdings to over 457,000 HYPE valued at more than $31 million.

The recent correction has damaged short-term momentum, but it has also pushed the token back into a zone where long-term buyers are becoming increasingly active. Arthur Hayes-linked wallets have been adding to their positions, with one recently withdrawing an additional 44,156 HYPE worth nearly $3 million. This suggests experienced traders still see value in Hyperliquid despite the recent correction.

The broader market weakness has triggered profit-taking, but unlike many speculative tokens, Hyperliquid continues to attract fresh capital. The token is currently testing its important support area between $58 and $60, which aligns with previous breakout levels and short-term moving averages. A successful rebound from current levels could push HYPE back toward $70, where sellers recently emerged.