Hyperliquid’s $95 high to $76 low: A whale deposit deepens HYPE’s bearish case

Since touching a high of $95 in early October, Hyperliquid [HYPE] has struggled to maintain an upward trajectory. In fact, the altcoin has traded within a descending channel, falling to a low of $74 before slightly rebounding. As of this writing, Hyperliquid was trading around $76, down 4% on weekly charts. With the altcoin in a prolonged downtrend, it seems some high-net-worth investors may be choosing to exit. Hyperliuid whale deposits 494,310 HYPE into exchanges According to Lookonchain, three wallets, likely belonging to the same whale, deposited 494,310 HYPE, worth $37.83 million, into Coinbase. Depositing tokens into exchanges doesn't always mean selling. However, in many cases, such massive deposits have preceded selling rather than holding, especially when made by a single whale.

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