Bitwise accumulated 28,085.8 HYPE tokens worth approximately $1.52 million from Nonco for its ETF clients, adding institutional demand amid a wider price correction. Exchange outflows reached around $1.46 million, tightening available liquidity on trading platforms. Short liquidations stood at $59.25K, over eight times the $6.91K in long liquidations, absorbing selling pressure. The token hovers around $54.88 above the key $53.79 support with RSI at 44.48, positioning for a potential recovery toward $57.21, while a breakdown would target $51.20.
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