Hyperliquid Surges 8.94% Amid Bullish Market Dynamics

Hyperliquid's latest price was $38.75, up 8.939% in the last 24 hours. This surge in price is indicative of the strong technical momentum and bullish market dynamics that have been driving Hyperliquid's performance in the crypto market. The cryptocurrency has seen a clear linear uptrend since reaching a low point at $9.32 in mid-April. This upward movement has been supported by sustained buying pressure, which has systematically squeezed short positions and triggered sizable liquidity sweeps. The recent weekly breakout saw a surge of short-covering activity as Hyperliquid tested its mid-February resistance near $27. The timing of this move coincided with Bitcoin’s all-time high, amplifying the short squeeze effect. Despite the overbought RSI suggesting potential for a local cooldown, Hyperliquid’s dominance on the daily gainer board indicates otherwise. Its momentum remains firmly in bull territory. With price structure holding strong above key support levels and shorts continuing to get squeezed, the path of least resistance is still up. If follow-through volume kicks in, Hyperliquid could easily extend its rally into next week’s sessions.

James Wynn, a prominent figure in the crypto community, has been actively involved in leveraged trading on Hyperliquid. According to recent reports, Wynn’s cumulative leveraged revenue on Hyperliquid has reached $56.637 million since May 2025. This involvement includes a total of 9 token operations, with 5 of them being Memecoins, accounting for 55% of the total. Wynn prefers long positions, with long positions accounting for 83.3% of the 12 large operations, although with only a 50% win rate. The most profitable token for Wynn has been PEPE, with a profit of $25.187 million, while the most losing token has been ETH, with a loss of $3.696 million. This activity highlights the significant interest and potential in the Hyperliquid platform, as well as the strategic moves being made by key players in the market.