Hyperliquid Price Rejection Could Set Up a Bullish Breakout as Whales Short

Three Things to Know Hyperliquid's two top traders have built more than $1 billion in short bets against crypto, including HYPE itself. HYPE's chart still leans bullish, with the token holding above its key moving averages as momentum turns up. A nearby ceiling just above the current price will decide whether the whales get paid or squeezed. The leaderboard's top two traders on Hyperliquid are betting heavily on a crypto decline. On-chain data shows both accounts short HYPE, and the leader keeps adding to a position already deep in the red. That sets up a direct test for the exchange's own token. Buyers still control the trend, and crowded shorts can turn into fuel if prices rise. Traders now want to know which side breaks first at resistance.

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