Bybit Whale Activity Fuels HYPE Token’s 6% Rebound Amid Shifting Market Sentiment

On January 29, 2026, Hyperliquid (HYPE) experienced a notable 6% surge, marking its most significant rally in weeks. This rebound appears to be closely tied to substantial whale activity on the Bybit exchange, where a major investor deposited 665,000 HYPE tokens, valued at approximately $14.5 million. The whale's prior accumulation near the $11.50 price level suggests strategic positioning, and the subsequent deposit to Bybit has been interpreted by market observers as a potential signal of shifting sentiment. The token successfully stabilized above key technical support levels, a development that coincided with increased derivatives activity on the platform. Analysis of on-chain data reveals that this movement is not an isolated event but part of a broader pattern of accumulation, indicating that large holders may be anticipating a trend reversal. While the immediate price action is bullish, the broader market trend for HYPE remains cautiously observed. The convergence of a strong price rebound, high-value whale transactions on a major exchange like Bybit, and renewed institutional interest creates a compelling narrative for a potential recovery phase. This activity underscores the critical role that centralized exchanges play in facilitating large-scale liquidity events and serving as barometers for institutional and whale sentiment. The market will be watching closely to see if this rebound sustains and transforms into a longer-term uptrend, or if it represents a temporary relief rally within a larger corrective pattern.

HYPE Token Rebounds 6% as Whale Activity Signals Potential Trend Reversal

Hyperliquid (HYPE) surged 6% today, marking its strongest rally in weeks as derivatives activity and whale movements suggest shifting sentiment. The token stabilized above key support levels, with on-chain data revealing a whale depositing 665,000 HYPE ($14.5M) to Bybit after accumulating NEAR $11.50.

Market observers note the rebound coincides with renewed institutional interest, though the broader trend remains corrective. The MOVE follows weeks of subdued trading, with liquidity flows now hinting at capital rotation rather than outright exits.

‘When whales reposition rather than flee, it’s often a leading indicator,’ said one trader monitoring the derivatives uptick. The HYPE staking unlock and subsequent exchange transfer suggest strategic accumulation.

Bybit to Launch Retail Banking Services With 'MyBank' Accounts in February 2026

Bybit, the world's second-largest cryptocurrency exchange by trading volume, is venturing into retail banking with its new product 'MyBank powered by Bybit.' Scheduled for launch in February 2026, pending regulatory approvals, this initiative marks a strategic expansion beyond crypto trading into full-fledged financial services.

The service will allow users to hold fiat currencies like USD and GBP alongside cryptocurrencies, enabling seamless conversions between cash and digital assets. CEO Ben Zhou emphasized this as a major upgrade for everyday users, bridging traditional banking with crypto liquidity.

Key features include personal IBAN accounts for global transfers and borderless transactions. The move signals Bybit's ambition to compete with neobanks while leveraging its crypto infrastructure—a potential game-changer for mainstream adoption.