Arthur Hayes and Whales Accumulate Hyperliquid Despite 15% HYPE Price Drop

Key Insights:

• Multiple whale wallets accumulated more than $30 million worth of Hyperliquid tokens through exchange withdrawals.
• However, demand for spot HYPE ETFs appears to be cooling after an explosive launch.
• Technical analysts remain bullish on HYPE price with a key support at $59.25.

After a strong run-up to $70, Hyperliquid’s native token HYPE has witnessed a healthy 15% correction over the past week. This comes as major profit booking is taking place across the entire crypto market. With the HYPE price now trading at $60, big whales and investors like Arthur Hayes are doing some bottom phishing, in expectation of a trend reversal again.

Arthur Hayes, Whale Chip In to Buy the Hyperliquid Price Dips

Despite a sharp correction in the Hyperliquid token price this week, a large whale investor has jumped in to buy the dips. The HYPE price has fallen roughly 15% from its recent all-time high near $77 reached last week. Amid traders’ profit-booking, the price has now dropped to lows of $60.

During this downturn, a whale entity has accumulated and withdrawn tokens from exchanges in the past two days. On the first day, the whale reportedly transferred approximately $4.18 million worth of HYPE from Gate.io into self-custody. On the second day, it withdrew another $2.51 million.

The two transactions totaled about $6.7 million in HYPE withdrawals. With this, the wallets’ holdings have also surged to more than $31 million.

Blockchain analytics platform LookonChain also reported that large investors are accumulating Hyperliquid. According to the blockchain analytics platform, a newly created wallet identified as 0x987f withdrew 278,827 HYPE tokens, worth $17.5 million, from Coinbase Prime.

In a separate transaction, whale wallet 0x2386 resumed accumulation activity after a month-long pause. In total, it withdrew an additional 96,930 HYPE tokens worth around $6.01 million from BitGo.

Is Hyperliquid ETF Excitement Waning?

Inflows coming into spot Hyperliquid ETF have waned recently after a strong start in May 2026. The spot Hyperliquid ETFs attracted multi-million dollar inflows for 16 consecutive trading sessions following their debut in early May. This reflected strong institutional demand for the HYPE token.

However, the streak ended on June 5, when the funds recorded their first day of net outflows, totaling nearly $3 million. While the ETFs have not experienced additional outflow days since then, recent trading activity suggests demand has cooled. The products have recorded two sessions with no net flows at all, as per the data below from SoSoValue.

HYPE Price Chart Reflects Strength

Despite the 15% correction, analysts are bullish over the HYPE price chart. According to market analysts, the HYPE price rally stalled after the token entered a key resistance zone between approximately $75.50 and $80.00.

The recent correction has pushed HYPE back toward the $62 area, where the token is now testing an important support region. From a technical standpoint, the bullish structure remains valid as long as HYPE continues to hold above major support levels. Immediate support is seen near $59.25, while stronger support zones sit around $48.70, $40.75, and $33.63.

Market participants are now closely watching whether buyers can defend the $59 support area and establish a higher low. A successful defense could pave the way for another move toward the $75.50 to $80 resistance zone. However, a breakout above this upper resistance band can lead to a rally to $90 and beyond.

The post Arthur Hayes and Whales Accumulate Hyperliquid Despite 15% HYPE Price Drop appeared first on The Market Periodical.