HYPE Under $70: Why Hyperliquid Fell and the Air Pocket Below

HYPE trades at $67.5 this morning, down 5.55% on the day. That’s its lowest level in about three months. HYPE is down because the whole market is down. Bitcoin broke its 200-week moving average overnight, and rate-hike bets keep climbing. Nothing broke at Hyperliquid itself. Still, HYPE fell harder than Bitcoin, as it usually does when traders cut risk. I’ve held my HYPE spot bag since the genesis airdrop, so I feel every one of these candles. Below, I walk through the macro, the Hyperliquid news, the chart and the levels I watch next.