Hyperliquid liquidity hits $8.8 billion—will HYPE break through $100?

Hyperliquid records a record $8.8 billion in open contracts as trading activity rebounds, while Bitcoin surpasses $85,000.

Higher liquidity boosts revenue and the HYPE buyback program, but derivatives data also suggests that some institutional players are hedging as the token price approaches $100.

HYPE’s uptrend could continue if market risk appetite improves. Some upside targets mentioned are $102 and $118, but these are trend-based scenarios, not guaranteed prices.

The probability of HYPE exceeding $100 is assessed by several institutions at 27%–47% in late September and October, before rising to 52% in December. These rates reflect market expectations at given times, not certain forecasts.

Put option buying activity indicates that some institutions are hedging against the possibility of HYPE pulling back to the $85–88 region.
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