Hype Surrounds Hyperliquid Despite JPMorgan's Bearish Warning

Hyperliquid's (HYPE) price has risen by 1.66% to $56 as of August 7, defying JPMorgan analysts' warnings that its market share could drop due to growing competition from regulated U.S.-based platforms.

Data from SoSoValue shows that HYPE ETFs recorded $2.84 million in inflows on August 6, mirroring rising demand from institutions as crypto ETFs approach $1 billion in total weekly inflows.

The analysts at JPMorgan warned of significant challenges to Hyperliquid's market share, stating, 'We see significant challenges to the market share of decentralized platforms such as Hyperliquid… The launch of U.S.-regulated crypto perpetual futures products could accelerate a shift in liquidity away from offshore and decentralized venues to onshore venues.'

Despite these concerns, the four-hour chart shows that HYPE is creating a cup and handle pattern, which usually suggests a bullish long-term price forecast. If the price closes above $57 for three straight days, it could gain by 12% and reach $64.