Hyperliquid has faced sustained selling pressure across its spot and derivatives markets in recent weeks, although momentum is gradually recovering. Over the past 24 hours, $4.49 million in HYPE positions were liquidated. Long positions accounted for $3.99 million, or 88.9% of the total, compared with $496,730 in short positions, or 11.1%. This 703% imbalance means bearish traders suffered losses almost eight times smaller than bullish traders. HYPE nevertheless trades around $86 after declining 2.26% over 24 hours, while its hourly chart has turned positive.
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