Hyperliquid, soaring to new highs alone in weekend trading..."An unrivaled rally as others begin to rebound"

▲ Hyperliquid (HYPE) / AI generated image

Hyperliquid (HYPE) broke its new all-time high amidst the cryptocurrency market rebound. While Bitcoin (BTC), Ethereum (ETH), and XRP showed signs of recovery over the weekend, Hyperliquid surged past $63, demonstrating the strongest upward trend in the market.

CryptoPotato reported on May 24 (local time) that Bitcoin rebounded in a single day amid positive progress in peace negotiations between the U.S. and Iran, after losing approximately $8,000 in just over a week. Most altcoins also followed Bitcoin's trend, leading to a recovery of over $80 billion in the total cryptocurrency market capitalization compared to the previous day's low.

Bitcoin had been under strong selling pressure for about the past 10 days. A combination of ETF outflows, investor exits, and escalating geopolitical tensions pushed it below $78,000 last weekend and further down to $76,000 a few days later. Rebound attempts on Wednesday and Thursday were also capped at $78,000, and on Friday and Saturday morning, selling pressure took dominance, dragging Bitcoin to just over $74,000. This was its lowest price point in May.

Subsequently, Bitcoin immediately rebounded after U.S. President Donald Trump announced that both the U.S. and Iran had made significant progress in a potential permanent peace agreement. Bitcoin rose to just over $77,200 on the day, after which its upward momentum was limited, and it subsequently traded near $77,000. Bitcoin's market capitalization recovered to $1.54 trillion, and its dominance over altcoins remained above 58% after a brief dip the previous day.

Hyperliquid briefly plummeted to $55 the previous day but has maintained an unrivaled performance in the market over recent weeks. Its upward momentum intensified today, reaching a new all-time high of over $63. As Bitcoin's rebound revived overall market risk appetite, Hyperliquid showed the most notable trend among major assets.

Ethereum defended the $2,000 mark and then rose above $2,100 with a 4.5% daily gain. BNB recovered to $660, and XRP reclaimed the $1.35 resistance level. Solana (SOL) climbed to $87, and ZEC returned to $645. Upward trends were also observed in CC, XLM, SUI, AVAX, TAO, and others.

WLD, NEAR, MORPHO, ONDO, and QNT showed stronger rebounds, recording double-digit percentage gains. The total cryptocurrency market capitalization increased by over $80 billion from the previous day's low, recovering to $2.65 trillion. The weekend market appeared to be breaking away from its bearish trend, driven by Bitcoin's rebound near $77,000 and Hyperliquid's new all-time high.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*