HYPE Price Soars 42% in Weeks Amid Bitcoin Recovery

The price of HYPE has climbed to $73.18, marking a 42% gain since August 1 and putting Hyperliquid's native token within striking distance of its all-time high of $76.82.

This surge in price is largely due to the improving sentiment around Bitcoin, with major altcoins also responding positively to the recovering market.

Rising trading activity on Hyperliquid is adding to the momentum, while social dominance, social volume, and weighted sentiment have all increased alongside the HYPE price.

However, analysts warn that reaching the ATH would be one thing, but flipping it would be another. A clean breakout could push HYPE price into the price discovery phase, which is a much-anticipated move for Hyperliquid investors.