Hyperliquid News Today: HYPE at $50: Bullish Momentum vs. November Supply Unlocks

Hyperliquid's HYPE token is approaching a critical juncture as it tests the $50 psychological support level, with technical indicators and on-chain activity suggesting potential volatility ahead. The token, which has seen bullish momentum driven by whale accumulation and strategic buybacks, faces a key inflection point amid concerns over upcoming supply unlocks and fading momentum signals.

As of late October 2025, HYPE traded at $49.55, with open interest surging past $1.9 billion on Hyperliquid's decentralized exchange (DEX). This growth is attributed to a combination of large-scale on-chain transactions and institutional-level incentives, which have reinforced the token's role in the platform's governance and liquidity infrastructure, according to a Bitget report. Whale activity has been a primary catalyst, with CryptoQuant data showing increased large-scale purchases since mid-October. Over 70% of futures contracts on Hyperliquid are currently long positions, a trend that the report said is mirrored only by Bitcoin and Ethereum on the platform.

However, technical analysis points to potential headwinds. The Relative Strength Index (RSI) for HYPE has dipped to 59 on the 4-hour chart, signaling waning bullish momentum and a bearish divergence as the token nears $50. Key resistance levels at $51.432 and $56.596—previous highs—must be surpassed for a sustained rally. Failure to break above $50 could trigger a pullback to the 50% Fibonacci retracement at $46.351, potentially forcing liquidations of long positions, the report warned.

The platform's daily token burn program, which has eliminated $3 million worth of HYPE since September, has helped stabilize prices. However, November's linear unlocks pose a significant risk, introducing $10 million in daily supply pressure starting on November 29. Analysts note that while these unlocks could test market resilience, the current 31% unlocked supply and robust DEX activity suggest underlying strength, the Bitget coverage added.

Open interest on Hyperliquid's DEX has rebounded to $9.4 billion, with Bitcoin accounting for $3.3 billion of that total. This liquidity surge reinforces HYPE's governance utility, as the token's role in incentivizing platform participation aligns with Hyperliquid's expansion goals. The platform's buyback initiatives, which have totaled $640 million year-to-date, further underscore its commitment to tokenomics-driven value creation, the report noted.

Broader market trends also highlight HYPE's strategic position. Over $1.4 billion in crypto token buybacks have been recorded in 2025, with Hyperliquid's efforts reflecting a maturing industry prioritizing fundamentals over speculative growth. Critics caution that some buybacks, such as MegaETH's $450 million token sale, may lack long-term viability, contrasting with Hyperliquid's focus on ecosystem resilience, the Bitget piece observed.

Stakeholders are advised to monitor on-chain data and macroeconomic trends as November approaches. The interplay of whale accumulation, technical resistance, and supply dynamics will likely determine whether HYPE sustains its upward trajectory or faces a correction.