Whales YOLO'd $23M of HYPE Into Cold Storage While Retail Was Still Snoozing 🐳

Two newly active wallets withdrew a combined 375,757 HYPE, valued at more than $23.46 million, from centralized exchanges in a 24-hour window, according to Lookonchain. A fresh wallet pulled 278,827 HYPE, worth roughly $17.45 million, from Coinbase Prime, while wallet 0x2386, returning after a one-month pause, removed an additional 96,930 HYPE, valued at approximately $6.01 million, from BitGo. Both transactions directed the tokens into private custody rather than back to exchanges, immediately reducing the floating supply available for trading.

The accumulation landed while Hyperliquid (HYPE) held above the $60 support zone, an area where the cup-and-handle neckline intersects with an ascending trendline that has supported the uptrend since mid-May. Trading Frequency metrics continued to register a "Few Retail" signal, indicating that smaller traders had not joined the latest move. That gap between whale flows and retail participation shaped sentiment around HYPE during recent sessions, with positioning concentrated among a narrow group of large holders.

At the time of writing, HYPE traded above the $60 confluence after retreating from a recent high near $76. The daily RSI sat at 48.7, slipping below the neutral 50 level and its moving average near 55.2, reflecting cooling buying strength during the correction. The broader structure remained intact as long as buyers defended the $60 region, with the immediate resistance at $66.88 and the next major resistance near $73.64. A breakdown below support would weaken the current bullish structure.

On the Binance Liquidation Heatmap, a dense cluster of liquidation liquidity sat just above the market, with a notable concentration between approximately $63.5 and $64.5 and a larger pool stacked higher. With HYPE hovering above the cup-and-handle neckline near $60 and short-term momentum cooling, the chart pointed to $66.88 as the next technical barrier.