- HYPE bounces at $24 support, facing resistance near $26–$26.50; breakout could signal higher prices ahead.
- Whale “BitcoinOG” opens $900M long on Hyperliquid, boosting market confidence and retail trader interest.
- Risks remain: a drop below $90K Bitcoin could trigger big liquidations despite bullish sentiment.
Crypto traders are watching closely as HYPE trades within a critical $24–$26 range on Binance. According to analyst Crypto Bully, the HYPE/USDT perpetual contract has stabilized after a sharp decline, bouncing off the Value Area Low (VAL) near $24. Buyers continue stepping in at this demand zone, confirming strong interest at lower levels.
However, the market faces resistance around $26–$26.50, where previous attempts to move higher have failed. Crypto Bully noted, “For Hype to trade higher, it needs to get above the $26 level, otherwise trading this $24-26 range looks good.”
The chart reveals a market in consolidation. Price repeatedly crosses moving averages, highlighting sideways momentum rather than a clear trend. Each dip toward support triggers buying, while tests of upper resistance meet rejection. Moreover, the failed auction near $27 indicates that the market is not yet ready for higher prices.
If HYPE breaks and holds above $26.50–$27, bullish momentum could push prices toward new highs. Conversely, failing resistance may rotate price back toward demand, keeping it range-bound. Hence, traders must monitor these levels closely for decisive moves.
Massive Whale Positions Shake Market Sentiment
Adding urgency, a large leveraged position has emerged on Hyperliquid. The so-called “1011 insider whale,” also known as BitcoinOG, has opened long positions worth over $900 million across Bitcoin, Ethereum, and Solana.
This trader previously made headlines by shorting the market before the October 2025 crash, reportedly earning $200 million. Currently, the whale controls $265 million in real capital with roughly 3.4x leverage, sitting on $38 million unrealized profit. Consequently, retail traders and smaller funds are gaining confidence, fueling bullish sentiment.
Large leveraged positions can dramatically influence market psychology. Funding rates are rising, suggesting more traders are opening long positions. However, the risks remain significant. A drop below key support levels like $90K for Bitcoin could trigger massive liquidations, causing sharp price swings. Moreover, the whale appears comfortable holding, suggesting confidence in continued market strength.
