Binance has resumed withdrawals of HYPE and APT following its late-October hack, which had halted withdrawals for 10 days. HYPE was trading around $75, down more than 12% over seven days, while its daily trading volume reached $442 million. Derivatives traders are adding pressure: Abraxas held more than $451 million in perpetual-futures exposure, Wintermute held about $107 million, and the HYPE short position was worth $77.60 million, with unrealized profits above $30.77 million. A whale also sold 433,000 HYPE at 10-times leverage. A sustained break below the $75 support level could expose HYPE to declines toward $70 or $60, despite restored withdrawals potentially improving market confidence.
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