$HYPE keeps showing up on the trending board, but the tape is not rewarding the attention — down about 2.5% near $85.70 on over $1.1B in volume. That is a lot of eyes for a red day, and it feels like traders are watching rather than stepping in. $BTC is barely moving nearby near $77,937, so this looks name-specific, not a market-wide drag. I'm watching whether it holds $85 — stay above it and the trending buzz has something to build on; slip under and the crowd probably rotates on fast. #Hyperliquid