Bitcoin is moving higher today, while HYPE is down nearly four points on its own.
Withdrawals on Binance are still suspended.
After the hack, withdrawals for quite a few coins gradually resumed, but HYPE is still stuck.
Looking further back, the news about ICE and TradeXYZ launching U.S. perpetuals at the end of the month sent it surging to around 98 that day, but it gave back those gains all the way down.
The narrative is still there, but the market has already priced in the excitement.
The price is now hovering around 82, after topping out at about 85 today.
With positive news slow to arrive, withdrawals blocked, and the price weak, the short-term picture looks more like the market is still digesting this pullback.
First, watch whether it can hold around 82. It would take a recovery to around 85 to suggest today's red candle has been absorbed.
Are you watching more closely for withdrawals to reopen, or to see whether 82 holds?
$HYPE
#HYPE #Hyperliquid
Withdrawals on Binance are still suspended.
After the hack, withdrawals for quite a few coins gradually resumed, but HYPE is still stuck.
Looking further back, the news about ICE and TradeXYZ launching U.S. perpetuals at the end of the month sent it surging to around 98 that day, but it gave back those gains all the way down.
The narrative is still there, but the market has already priced in the excitement.
The price is now hovering around 82, after topping out at about 85 today.
With positive news slow to arrive, withdrawals blocked, and the price weak, the short-term picture looks more like the market is still digesting this pullback.
First, watch whether it can hold around 82. It would take a recovery to around 85 to suggest today's red candle has been absorbed.
Are you watching more closely for withdrawals to reopen, or to see whether 82 holds?
$HYPE
#HYPE #Hyperliquid
