Hyperliquid price fell sharply after reports surfaced that Arthur Hayes sold $800,000 worth of tokens to buy a Ferrari. Despite the bearish news, the token remains in a bullish market structure, supported by multiple technical confluences.
Summary
- 10% Drop on the day: Triggered by Arthur Hayes’ reported token sale.
- Fibonacci Rejection: $60 level confirmed as key resistance.
- Bullish Structure: Support retest signals potential continuation higher.
The sudden 10% decline on the day in Hyperliquid’s (HYPE) price came amid speculation around Arthur Hayes selling $800k worth of his position. While the news created a wave of bearish sentiment, technical analysis suggests the correction coincided with a rejection from the Fibonacci extension target near $60.00 Circle introduced native USDC on Hyperliquid’s HyperEVM and invested directly in the network, a move that strengthens the project’s long-term outlook. Price has since found support, confirming a bullish retest of the trend line.
Hyperliquid price key technical points:
- 10% Decline on the day: Triggered by Arthur Hayes’ reported $800k token sale.
- Fibonacci Rejection: Price rejected at the $60.00 extension level.
- Support Retest: Value area high and $48.00 resistance remain key.
The rejection near $60 was not random; it aligned with the Fibonacci extension target, a region that often triggers profit-taking. The sell-off was amplified by bearish headlines, but the broader market structure remains intact.
Price has since rotated back into a bullish support zone, confirming a retest of trendline support. This level has already produced multiple higher lows, reinforcing the bullish bias. From a structural perspective, the pullback represents another higher low rather than a breakdown.
The key levels to monitor in the coming days are the value area high and the high-time-frame resistance at $49.00. Reclaiming these levels on a closing basis would confirm that bulls remain in control and set up continuation toward $60.00 and beyond.
While Arthur Hayes’s $800,000 token sale provided the fundamental spark for the move lower, the rejection from $60.00 was already technically justified. This highlights how fundamental catalysts can exaggerate technical setups, accelerating price into key support regions.
Hyperliquid also recently hit an all-time high after a stablecoin launch and fresh institutional backing, underscoring the strength behind its broader trend. Importantly, demand continues to step in at these levels, reinforcing the bullish structure.
What to expect in the coming price action
Hyperliquid remains within a bullish market structure despite short-term volatility. If price continues to hold above the trendline and reclaims $49.00, a rotation back toward $60.00 is likely. The recent sell-off should be viewed less as a structural breakdown and more as a healthy correction within a broader uptrend.
