The whole market is falling, but this one is up nearly 10% against the trend.
That’s $HYPE . Perpetuals are up 9.78% in 24 hours to $93.27, with $3.64 billion in trading volume, a high of $97.19, and a low of $84.67. As the chart shows, it’s climbed from around $84 with barely a pause.
Why this one? On October 29, NYSE parent ICE and Trade(xyz) signed a definitive agreement to bring Hyperliquid-based perpetuals to the regulated US market, with ICE operating them exclusively and taking an equity stake. That same day, Druckenmiller publicly said he had invested in Trade(xyz), and Musk replied with just one word: “Interesting.”
But this isn’t a done deal yet: the US launch is pending CFTC approval, and there’s no confirmed timeline. The catalyst is real, but when it will materialize is unknown—that’s the risk of chasing the rally.
The token supply picture has pressure on both ends: fee-driven buybacks have burned a cumulative 49.87 million tokens, or 4.99% of the 1 billion cap; but around 9.917 million tokens for core contributors unlock on November 6. Whether selling pressure shows up depends on that day.
Support: $84.67
Resistance: $97.19
Holds above $84.67 → The rally against the trend remains intact; next up, $97.19
Breaks below $84.67 → Call this rally over for now; back to the old $75–$82 range
Moves above $97.19 → Opens the door to a new-high narrative, but watch for people front-running the unlock
I’m leaning bullish, but I’m not chasing: the news is compelling, but neither approval nor the unlock has played out yet. My invalidation point is simple: if it closes below $84.67, I’ll admit I was wrong.
Which would you choose: get in now and bet on approval, or wait until after the November 6 unlock?
⚠️Just my personal rambling; this is not investment advice.
#HYPE #Hyperliquid #AltcoinRotation
That’s $HYPE . Perpetuals are up 9.78% in 24 hours to $93.27, with $3.64 billion in trading volume, a high of $97.19, and a low of $84.67. As the chart shows, it’s climbed from around $84 with barely a pause.
Why this one? On October 29, NYSE parent ICE and Trade(xyz) signed a definitive agreement to bring Hyperliquid-based perpetuals to the regulated US market, with ICE operating them exclusively and taking an equity stake. That same day, Druckenmiller publicly said he had invested in Trade(xyz), and Musk replied with just one word: “Interesting.”
But this isn’t a done deal yet: the US launch is pending CFTC approval, and there’s no confirmed timeline. The catalyst is real, but when it will materialize is unknown—that’s the risk of chasing the rally.
The token supply picture has pressure on both ends: fee-driven buybacks have burned a cumulative 49.87 million tokens, or 4.99% of the 1 billion cap; but around 9.917 million tokens for core contributors unlock on November 6. Whether selling pressure shows up depends on that day.
Support: $84.67
Resistance: $97.19
Holds above $84.67 → The rally against the trend remains intact; next up, $97.19
Breaks below $84.67 → Call this rally over for now; back to the old $75–$82 range
Moves above $97.19 → Opens the door to a new-high narrative, but watch for people front-running the unlock
I’m leaning bullish, but I’m not chasing: the news is compelling, but neither approval nor the unlock has played out yet. My invalidation point is simple: if it closes below $84.67, I’ll admit I was wrong.
Which would you choose: get in now and bet on approval, or wait until after the November 6 unlock?
⚠️Just my personal rambling; this is not investment advice.
#HYPE #Hyperliquid #AltcoinRotation
