Hyperliquid's Price Plummets Under Pressure from Institutional Selling and Governance Uncertainty

Hyperliquid's (HYPE) price has been trending lower due to various factors affecting investor sentiment.

The token failed to reclaim its recent highs, and bearish momentum is accelerating as investors digest negative developments.

One key factor behind the decline is institutional selling, with Bitwise transferring 117,917 HYPE tokens worth around $7.05 million to Coinbase.

This move has added fresh pressure on the token, and traders often interpret repeated deposits as a signal that additional supply could soon enter the market.