🚀 HYPE Breakout Imminent? Fresh Whale Accumulates Hyperlong Position on Hyperliquid

Hyperliquid's HYPE token flashes bullish signals as a newly spawned whale dives deep into long positions. Is this the start of a liquidity surge—or just another degen play waiting to get rekt?

Whale Alert: Big money moves trigger algorithmic traders' FOMO pumps.

Hyperliquid's Edge: Perps-focused L1 attracts high-leverage gamblers—sorry, 'sophisticated investors'.

Reality Check: Remember kids, in crypto, 'whale accumulation' often just means 'greater fool theory loading screen'.

Previously, whales opened HYPE positions during the rally toward $45, but this time, long positions may be riskier. Most of HYPE activity is limited to Hyperliquid, leading to potential market manipulation. 

HYPE may see higher levels ahead

HYPE is still within a small distance of its recent peak around $45. Open interest for HYPE is still around $1.6B, with no dramatic changes in the past few days. However, traders shifted to a 65% long positions against 35% short, suggesting an expected breakout. 

The long/short ratio for HYPE varies wildly. For most exchanges, the ratio is balanced, but on Hyperliquid, there is an anomalous predominance of shorts. The ratio is lower compared to all other exchanges, suggesting HYPE may also see a short squeeze. 

Additionally, HYPE is dissolving its limit order ceiling, with fewer traders posting limit orders at $50. HYPE is seen as capable of moving to a higher range, mostly due to the predictable burning of fees. 

More bullish predictions see HYPE climb as high as $100 on direct whale purchases. Hyperliquid is also rising in the ranks, competing with older spot and derivative platforms.

HYPE ownership is also a tool to share in the fees generated by Hyperliquid. The perpetual DEX platform produces up to $2M in daily fees, with consistent daily activity.

Is Wintermute getting active on Hyperliquid?

During its first year of rapid growth, Hyperliquid tapped demand from risky traders and anonymous whales. This time, the platform may be drawing in market makers. 

In the past day, a wallet identified as probably belonging to Wintermute bridged $8.3M in USDC from Arbitrum and deposited the stablecoins to Hyperliqiod. 

Wintermute’s main portfolio does not report any HYPE ownership. However, during previous market cycles, the leading market Maker has also sold HYPE from the same wallet. Previous reports have estimated Wintermute holds around 4.17M HYPE and has frequently entered the market since January 2024. 

The actions of Wintermute have happened in the background, with rumors that the market maker is mostly long on HYPE. The recent inflow of USDC may add to the long positions on HYPE, setting expectations for a return to the previous levels above $40.

KEY Difference Wire helps crypto brands break through and dominate headlines fast