HYPE Price Prediction as Kalshi Seeks CFTC Approval for Hyperliquid Perpetuals

Key Insights:

• HYPE Price traded near $61.95 as futures open interest climbed to about $2.58 billion.
• Kalshi has filed with the CFTC to list Hyperliquid perpetual futures for US traders.
• Hyperliquid drew fresh Wall Street interest after leading crypto token buybacks in 2025.

Hyperliquid’s HYPE token traded near $61 after Kalshi submitted a filing to launch perpetual futures tied to the asset. The move extends Kalshi’s push into regulated crypto derivatives after introducing Bitcoin and Ethereum perpetual products for U.S. traders. HYPE gained roughly 1% over the past 24 hours while trading volume increased about 20%. Price action has shifted attention toward resistance levels between $63 and $70.

Hyperliquid Price Prediction Focuses on Key Resistance Levels

The four-hour HYPE chart shows the token recovering from support near $55.56 after a sharp decline from the $75 region. Buyers have lifted the Hyperliquid price prediction back toward $61.95, although the token remains below the first major Fibonacci resistance at $63.20. A clear close above that level could allow HYPE to test $65.57, which marks the midpoint of the measured retracement.

Further gains would bring $67.93 into focus, followed by the $69.75 area near a rising trend line. Above that zone, resistance appears at $71.29 and $72.77. The chart places the previous swing high near $75.57, making it the main bullish target if buyers regain control. Failure to clear $63.20 may keep HYPE within the current recovery range.

Kalshi Seeks Approval for HYPE Perpetuals

Kalshi has submitted a filing to the Commodity Futures Trading Commission for a Hyperliquid perpetual futures contract. The proposed product would let traders take long or short positions in HYPE without a fixed expiration date. Kalshi has also pursued contracts linked to ETH, XRP, SOL, DOGE, XLM, LINK, BCH, LTC, SUI, SHIB, DOT, and HBAR.

The application follows the CFTC’s approval of Kalshi’s Bitcoin perpetual contract in late May. The regulator said Kalshi submitted that product for review under Commission Regulation 40. 3. New perpetual contracts tied to assets outside approved listings remain subject to individual review, giving the HYPE filing a separate regulatory process.

The filing does not amount to approval, and the contract cannot move forward under the requested framework until the regulator completes its assessment. Review may cover contract design, reference pricing, margin controls, and market safeguards. That distinction keeps the regulatory outcome separate from HYPE’s immediate market reaction during the current review process.

Kalshi’s expansion deepens the company’s presence in crypto derivatives, a market long led by offshore, decentralized platforms. Perpetual futures do not expire, and funding mechanisms help keep contract prices close to spot markets. Kalshi explains that traders can hold these positions until they decide to close them, subject to margin and liquidation rules.

Derivatives Activity Rises Around HYPE

HYPE futures open interest increased about 2% to $2.58 billion during the reported 24-hour period. Open interest on Binance, OKX, and Bybit also moved higher, indicating that traders added exposure while the token recovered. Rising open interest can support volatility when the price approaches heavily watched resistance or support levels.

Meanwhile, increased derivatives activity follows broader interest in regulated perpetual products across the United States. Kalshi and Coinbase recently introduced regulated crypto perpetual futures after receiving CFTC clearance for their initial offerings. These products bring a widely used structure from offshore exchanges into regulated US markets, though each additional asset requires further review.

HYPE must hold above $55.56 to preserve the rebound structure shown on the four-hour chart. A break below that level would expose $51.96, followed by $50.16. Continued selling could then pull the token toward $43.19, the chart’s deeper Fibonacci extension and projected bearish target.

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