HYPE Surges 13% as Retail Traders Challenge Whales
2min read The crypto market is currently witnessing a significant power struggle, with HYPE at the center of the battle. Two major whales are engaged in a high-stakes showdown, each betting on different directions for the token's movement. Meanwhile, thousands of retail traders are uniting, potentially shifting the balance of power.
Over the past month, HYPE has surged by over 13%, but this rally has recently paused, with the price increasing by only 0.25% in the last 24 hours. Analysts are divided on whether this is a temporary breather or a prelude to another surge. The recent Hyperliquid price surge has left the market on edge, eagerly awaiting the next development.
Retail derivative traders are also making their presence felt, driving up market volume and positioning themselves for continued upward movement. The key question now is whether this collective retail momentum can overpower the whales betting against HYPE.
Behind the scenes, the Hyperliquid Whale Tracker reveals two massive positions moving in opposite directions. One whale has taken a strong long position on HYPE, betting on further upward movement. This bullish whale entered with $15.54 million for $11.93. With the market now at $18, they are sitting on a 34.59% gain, but they’re not out of the woods yet. On the other hand, another whale has gone short with a $12.80 million bet opened at $14.209. As of now, this trader is down more than 22%. If HYPE breaks through further, the short whale could face liquidation, with their cutoff at $25.95.
Retail activity is surging. Most retail derivative traders are taking long positions, aligning with the HYPE bullish chart that’s been developing over the past week. This signals growing confidence among smaller investors, and they could be the key force behind the current Hyperliquid price surge. Market volume has jumped by 5.73% in the last 24 hours, hitting $274.91 million. Alongside that, the Volume-Weighted Funding Rate has remained positive since April 20, meaning that long positions are dominant, and traders expect further gains in HYPE.
The funding rate, currently at 0.0099%, indicates that long traders are paying a premium to short traders, showing a willingness to hold onto bullish bets. This supports the ongoing upward momentum and could widen the gap between spot and futures prices if bullish sentiment keeps rising. Liquidation data backs this up. Over the past 12 hours, short positions saw $37,230 in losses compared to just $5,530 for long traders. That imbalance shows how the pressure is mounting against bears, and how strongly the bulls are positioned.
Another key signal is Open Interest, which has returned to its February highs. This shows that overall trader engagement is surging, with most of it stemming from long positions aiming for further highs. The next big test for HYPE is whether it can push past its current level and challenge the next key HYPE price resistance. If retail traders stay locked in and volume continues to climb, that break could come sooner than many expect. However, volatility remains. The clash between a confident, bullish crowd and a whale betting against them could lead to sharp swings. But if the crowd continues to rally and maintain the momentum, the bearish whale may face a forced liquidation, a potential turning point in HYPE’s price trajectory.
HYPE’s story is no longer just about whales. It’s about the power shift. With the Hyperliquid price surge still unfolding, it’s becoming clear that retail traders may have more influence than ever before. As more retail positions align with the HYPE bullish chart and overcome resistance, this collective force could carry HYPE to new levels. The question now isn’t whether the whales can win, but whether they can hold their ground against a crowd that’s already decided this token is moving up. Stay tuned, because the next move might not come from deep pockets, but from the hive mind of retail momentum.
