Whales Bet Big on HYPE Despite ETF Outflows
Despite recent outflows from Hyperliquid crypto ETFs, whales continue to add exposure to HYPE tokens. On September 9, a whale bought another 116,427 HYPE tokens worth approximately $9.91 million. In the same day, a separate whale purchased another $26 million in HYPE.
These transactions come after two negative sessions for HYPE ETFs, with prices trading near $80.83 following a 6.4% daily decline and steady intraday selling. However, two large addresses continue to add and stake tokens, while Arkham tracks a leveraged long position in NMTD8, which has gained $4.09 million.
George's technical analysis shows that HYPE has retreated after failing to hold above $86-$87, with the current price near $84 signaling further downside if sellers maintain control. George's next stated downside target sits below $81, while a recovery above approximately $86.80 would weaken the bearish setup.