Two prominent investors collectively purchased 205,691 Hyperliquid (HYPE) tokens valued at approximately $9.57 million following a sharp price drop to $40. This significant acquisition triggered a swift rebound in HYPE price, pushing it to a high near $46 before settling around $45 at the time of reporting. Market indicators reflect growing buyer strength fueled by these whale activities.
One whale converted 1,733 XAUT into $7.83 million, then injected $10.2 million into Hyperliquid, spending $4.7 million to secure 103,636 HYPE tokens. This investor also opened a 5x leveraged long position on HYPE, signaling optimistic market expectations. Meanwhile, another whale deposited $4.87 million to acquire 102,055 tokens, reinforcing the bullish sentiment during this period of market weakness.
The price surge pushed the Stochastic RSI to 74, nearing overbought territory and indicating sustained buying momentum. Additionally, the Bulls vs. Bears indicator turned positive, suggesting whales have successfully shifted market control away from sellers. Technical analysis implies that if these conditions hold, HYPE could surpass the $47 mark and challenge its longer-term resistance around $50.
Despite this promising recovery, not all whales remained bullish. Some investors opted to take profits amid the price rebound. A separate whale reportedly closed positions after two months of accumulation, pocketing a $2.8 million gain. This profit-taking has increased selling pressure, evident in rising exchange outflows and higher spending from sellers. However, the net flow of tokens to exchanges remains positive, with recent inflows showing upward momentum—$2.8 million at press time, doubling from the previous day's $1.4 million.
Historically, intense profit-taking following dips can undermine price rallies, risking renewed declines if buying demand does not keep pace. Hyperliquid faces a delicate balance as competing whale actions create uncertain market dynamics. For now, the token appears poised to trade within a range as bulls and bears vie for dominance.
The current episode highlights the influence of large holders in shaping HYPE's short-term price action. Whether accumulation or profit-taking ultimately prevails will dictate the token's trajectory in the coming days.