Hyperliquid, Buy and Profit-Taking Collide Head-on as Price Hits All-Time High...Why Are Whales Moving in Opposite Directions?

▲ Hyperliquid (HYPE), Cryptocurrency Whale/AI Generated Image

As Hyperliquid (HYPE) set a new all-time high, the movements of large investors diverged sharply. Some whales invested millions of dollars in additional purchases, while other wallets engaged in large-scale profit-taking near the peak, increasing tension over the next direction.

According to BeInCrypto on May 25 (local time), Hyperliquid surpassed $64 on Sunday, breaking its all-time high. Hyperliquid has risen more than 40% in the past week and was trading at $63.7, up 0.53% from the previous day, according to BeInCrypto market data.

On-chain tracking data revealed conflicting buying and selling flows among whales. Wallet 0x9137 invested 15.1 million USDC to purchase 238,811 Hyperliquid at $63.25. A newly created wallet also withdrew 63,780 Hyperliquid worth $4.06 million from Bybit.

A wallet linked to Arthur Hayes, co-founder of BitMEX, was also observed reversing its previous position. According to Lookonchain, the Hayes-linked wallet deposited 115,453 Hyperliquid, worth $6.33 million, to Bybit at $54.81. Subsequently, the same address withdrew 85,714 Hyperliquid, worth $5.37 million, at $62.69.

Garrett Jin also accumulated 145,050 Hyperliquid over the past four days, with the value of these holdings totaling $9.05 million. He also placed a Time-Weighted Average Price (TWAP) order to buy an additional 39,940 Hyperliquid worth $2.44 million.

Conversely, some whales reduced their holdings at the peak. Wallet 0x632B sold 151,574 Hyperliquid, worth $9.25 million. The same address also placed a limit sell order to sell an additional 170,000 Hyperliquid between $63.45 and $70.55.

A trader who held a short position before Hyperliquid's surge also closed their position and simultaneously sold. Lookonchain reported that the trader unstaked 443,180 Hyperliquid worth $27 million and had already sold 231,899 Hyperliquid worth $14.15 million. The remaining 211,281 Hyperliquid, valued at $13 million, are also reportedly being sold. This trader still holds a short position of 141,500 Hyperliquid, worth $8.67 million.

BeInCrypto pointed out that whether continued buying at the current price level can absorb the profit-taking volume will be a key variable determining Hyperliquid's next move. As whale buy and sell orders simultaneously increased after breaking the all-time high, Hyperliquid entered a phase where strong upward momentum and short-term selling pressure are colliding head-on.

*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.*