Hyperliquid Price Slumps Below $55 Amid Weakening Institutional Demand
Hyperliquid's price continues to plummet, falling over 8% this week to trade below $54.80 on Wednesday.
The cryptocurrency is facing weakening institutional demand, with US-listed spot HYPE ETFs recording outflows of $1.24 million on Tuesday, marking four consecutive days of withdrawals.
Derivatives data also shows a bearish tilt, with CoinGlass' long-to-short ratio for HYPE reading 0.95 on Wednesday, nearing its lowest levels in over a month.