Hyperliquid Holds Near $81 Support as Market Liquidations and OTC Transfer Weigh on Price

Hyperliquid (HYPE) traded near $81 following a volatile period that saw the token drop nearly 12% over the past week. Daily trading volume reached roughly $918 million as the token fluctuated between $79.52 and $85.73 over a 24-hour span. The downturn coincided with a broader slide in the cryptocurrency market, where total weekly declines reached 3.9%.

Heavy forced liquidations in leveraged trading contributed to the downside momentum across digital assets. Within HYPE derivatives alone, around $11.46 million in positions were liquidated over 24 hours, with bullish long bets accounting for over 98% of those closures. Investors have also closely monitored an off-exchange transfer of 3.75 million tokens by Hyperliquid Labs. Although team statements indicate these tokens will not be sold on public exchanges, large supply movements often heighten caution among traders.

Key price levels to monitor include the recent low of $79.52 and resistance near $85.73. Beyond technical boundaries, upcoming economic reports—such as the U.S. Consumer Price Index—could impact broader market risk appetite, while ongoing platform usage figures like total value locked and daily revenue will show whether underlying trading activity remains resilient.