Hyperliquid Hype Hits Record Derivatives Exposure

Hyperliquid (HYPE) has reached a significant milestone in its derivatives market, surpassing $13 billion in open interest for the first time since October. This increase indicates that traders are taking on more exposure rather than closing positions, which often precedes rising prices.

The token's price has also broken through previous resistance areas, reaching $79.30 after hitting $82.50. Trading volume has increased significantly during this advance, with HYPE rising from around $56 to almost $80 in multiple sessions.

However, the daily RSI is at 80, putting HYPE firmly in overbought territory. This means that even a slight reversal could lead to aggressive deleveraging, making the $75, $77 range a crucial test for the token's price.