HYPE Risks $70 if Regulators Stall Hyperliquid Strategies' U.S. FCM Application

Three Things to Know Hyperliquid Strategies filed to become a U.S. futures commission merchant, a step that could open HYPE-based markets to American clients. HYPE has slipped under its 50-day average, and momentum still favors sellers. The 200-day average near $70 is the line that could decide whether the broader uptrend survives. Hyperliquid Strategies, the Nasdaq-listed firm that holds HYPE as its main treasury asset, has asked U.S. regulators for broker status in futures. Approval would let a subsidiary serve American clients on markets built on Hyperliquid. The filing lands as HYPE struggles through a broad crypto selloff, and corporate buying has failed to stop the slide. Traders now want to know whether the token can hold its longer-term trend during a review of uncertain length.

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