Hyperliquid Price Surges 20% on Trump Regulatory Comments

The price of Hyperliquid (HYPE) surged by 20% to reach $72.30 after U.S. President Donald J. Trump mentioned that CFTC Chairman Mike Selig is working on bringing HYPE into the United States under a compliant framework during a White House meeting.

This regulatory comment sparked a significant spike in trading volume, causing the stock price to rise aggressively towards the $72.50 resistance level, which has been a point of contention for HYPE's price action in the past.

The RSI indicator reached 84.89, its highest reading since early May, indicating that the rally may be facing a technical test.

HYPE's rally has also created a divide between traders holding long and short positions, with one trader reportedly holding a $43 million long position and Loracle facing approximately $10.95 million in unrealized losses on their HYPE shorts.