Cumberland's Massive Sell-Off Triggers FUD Among Hype Holders

Hype (HYPE) has seen its momentum cool after reaching a new all-time high on Thursday.

The cryptocurrency's price action signals declining bullish momentum, with bearish divergence forming.

Cumberland, one of the largest institutional holders of HYPE, moved 170,000 tokens to Coinbase and Bybit. This represents about 4% of the total institutional assets under management (AUM).

This movement may trigger a wave of sell pressure in HYPE, as Cumberland is one of the biggest institutional holders.