HYPE Whales Splash Cash: Is the Tide Turning or Just Another Fishy Tale?

by

Ah, the wondrous world of Hyperliquid (HYPE), where numbers dance like drunken dwarves and wallets swell like a wizard’s ego. Today, HYPE decided to bounce back with a 6% leap, as if it suddenly remembered it had a reputation to uphold. After weeks of lounging in the doldrums, it’s finally stirred itself, though whether it’s a heroic quest or just a trip to the privy remains to be seen.

The broader trend, of course, is still as corrective as a nanny with a ruler, but this little rebound has everyone squinting at their crystal balls. Traders, those eternal optimists, are now wondering if the downside cycle is as tired as a troll after a night of bridge-guarding. With momentum puffing its chest and liquidity flowing like a river of gold, the market is watching with the intensity of a cat eyeing a particularly suspicious fish.

Whales Play Musical Wallets as HYPE Finds Its Feet

On-chain data, that ever-reliable gossip, reveals that the big fish are back in the pond. One particularly flashy whale, with the charming moniker of 0xffe6, unstaked a cool 665,035 HYPE (worth a mere $14.23 million, pocket change really) and deposited it into Bybit. But, in a twist worthy of a Discworld plot, they then withdrew it and sold it for $14.14 million in USDC. Profit-taking, you say? Or perhaps just a whale with a penchant for drama.

Whale 0xffe6 unstaked 665,035 $HYPE($14.23M) and deposited it into #Bybit.

He then withdrew the 665,035 $HYPE from #Bybit to another wallet (0x471b) and sold for 14.14M $USDC at $21.27 avg.

– Lookonchain (@lookonchain) January 23, 2026

This, my dear reader, is not the flailing of a drowning man but the calculated stroke of a swimmer who knows exactly where the nearest tavern is. Historically, such antics signal a market transitioning from “oh dear” to “hmm, interesting.” Capital is rotating, not retreating, like a well-rehearsed dance troupe.

Meanwhile, other whales are hoarding HYPE like it’s the last pie at a feast, drawn to its yield-focused mechanics like moths to a flame. Strategic capital, it seems, views HYPE not as a fleeting fling but as a long-term companion, though whether it’s a loyal hound or a mischievous imp remains to be seen.

Hyperliquid Price: Stuck in a Channel Like a Troll in a Tunnel

For months, HYPE has been trapped in a descending channel, a financial version of the Ankh-Morpork traffic jam. But lo! The latest rebound from the $20 support zone has pushed it toward the upper bounds, like a determined dwarf eyeing the last ale barrel. At press time, HYPE trades at $22.89, with its sights set on the $24 resistance level. Break that, and it’s off to the races-or at least a brisk trot toward $30 and beyond.

Fail, however, and it’s back to the drawing board, or perhaps a nice long nap in the consolidation hammock. Momentum indicators, those fickle creatures, are starting to perk up. The Stochastic RSI is rising from oversold levels, a sign that the bulls are stretching their legs after a long slumber.

The Accumulation/Distribution indicator is also trending upward, suggesting that capital is flowing in like a river of gold, rather than trickling out like a leaky bucket. Volume analysis supports this, with buying volume expanding like a wizard’s waistline after a hearty meal.

Open Interest (OI) has surged by 18% to $1.82 billion, and trading volume is up 24%, as if the market suddenly remembered it had a deadline. Together, these metrics paint a picture of a structural momentum reset, where HYPE might just break free of its channel and soar-or at least stumble forward with a bit more dignity.

Read More

2026-01-24 10:06