Why HYPE Just Wrecked the Shorts (And Why It’s Still Pumping)
If you’ve been glued to your charts this week, you’ve definitely noticed Hyperliquid ($HYPE). It’s been doing absolute numbers, hitting a new All-Time High (ATH) while most of the market is just dragging its feet. We’re talking about an 85% run in just a few days.
People are losing their minds, and honestly, the fomo is getting real. But before you ape in, let’s look at why this is actually happening without the boring, robotic financial jargon.
The Short Trap is Working Like a Charm
Take a look at the derivatives data here.
See those red numbers? That’s the Long/Short ratio. Anything under 1.0 (like 0.56) basically means a ton of people are betting that the price is going to crash because they think it’s too expensive.
But guess what? The whales are just laughing. Every time someone shorts the top, the whales push it higher, forcing those short sellers to panic-buy to close their positions. This is a classic short squeeze. Every time a shorter gets liquidated, they are forced to buy more HYPE, which just acts like jet fuel for the price.
Watching the Bears Get Liquidated
It’s been a brutal week for anyone betting against HYPE. Check out this liquidation chart.
Look at that massive spike on May 14th that’s pure pain for the bears. Millions of dollars in short positions were nuked in a single day. When all those shorts get wiped out, it creates this crazy buying pressure that sends the price vertical. And the volume? It's wild.
We’re talking over $600 million in volume in a flash. This isn’t just small time retail trading there’s some serious money moving through the network, and the retail crowd is now piling info because they’re terrified of missing out.
The $63 Level: The New Line in the Sand
If you zoom out to the daily chart, things look pretty clear.
After hanging out around $34 for months, $HYPE finally snapped out of it and smashed through that $63 resistance level.
The play right now is simple, watch the $63 mark. If it holds up as support (meaning the price stays above it), then we’ve got a clear runway to $70, $80, and maybe even triple digits. If it breaks back down, just be careful.
The Bottom Line. HYPE isn't just a meme; it’s being fueled by a perfect storm of trapped shorters and massive volume. As long as we hold that $63 level, the trend is your friend.
Just a heads up,don’t go full send with your whole account. Keep your stop losses tight and don’t let the fomo take the wheel. The market can change in a heartbeat.
Source
Ajaib Sekuritas Indonesia
-----
This article was originally researched and written by me. To maintain transparency across Web3 platforms, please note that a version of this post was first published on my Hive blog (@rizqimaruf). You can find the original Hive post here: https://inleo.io/@rizqimaruf/hype-just-hit-an-ath
