HYPE Shows Strong Buyer Control as Cascading Liquidations Wipe Out Short Positions

• HYPE’s rally to $40 shows strong bullish momentum fueled by rising open interest.
• Liquidation spikes near $42 confirm buyers’ control and wipe out overleveraged shorts.
• Technicals suggest strength, but RSI near 70 signals caution amid possible short-term cooling.

Hyperliquid (HYPE) is on the verge of a potential breakout, with BitMEX Co-Founder Arthur Hayes signaling a sharp move ahead as multiple on-chain and technical indicators align. After a powerful V-shaped recovery from its April lows near $8, HYPE has surged nearly fivefold to trade at $40.88, with the $40 mark now acting as a crucial pivot point for the token’s next move. 

Hayes noted that if HYPE can successfully hold the $40 level as new support, it could be positioned for a rapid climb in the coming sessions. His commentary comes as a confluence of bullish data, from soaring open interest to a recent short squeeze, suggests that market momentum is building.

$HYPE breakout incoming, how high we going and how fast once it slices through $40? pic.twitter.com/7VW6fDMTkO

— Arthur Hayes (@CryptoHayes) June 10, 2025

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