Whales Defy ETF Outflows with Big Bets on Hyperliquid Crypto
Despite record outflows from Hyperliquid crypto ETFs, whales are continuing to add exposure to the HYPE token. On September 9, a whale bought another 116,427 HYPE tokens worth approximately $9.91 million. A separate whale purchased another $26 million in HYPE on the same day.
According to data from SosoValue, Hyperliquid crypto ETFs posted $5.29 million in daily outflows on September 9. This represents the largest negative daily flow displayed in the table. However, cumulative net inflows still stood at $338.33 million on September 9, with total ETF assets totaling $464.29 million.
The HYPE price has been declining, down 1.9% over seven days and 1.8% over 14 days. However, the 30-day timeframe shows a gain of 45.7%. The token's trading range is from $80.34 to $86.99 daily, with the current price sitting near $80.83.
George's chart analysis suggests that the HYPE price has failed to hold above $86-$87 and may continue to decline further. His next stated downside target sits below $81, but a recovery above approximately $86.80 would weaken the bearish setup.