Hyperliquid Price Faces Bearish Pressure
The Hyperliquid price is facing strong bearish pressure, dropping 5% to $38 as its funding rate turns negative.
The daily trading volume is notably down 15%, indicating a drop in market activity. The HYPE price remains at the selling pressure with a bearish mood being gathered across the derivatives market.
- Daily trading volume: down 15%
- Open interest: decreased by 6.42% to $1.45 billion
- Trading volume: down by 15.63% to $1.49 billion
- Long-to-short ratio: dipped below 1 to 0.8748
This outlook reveals that the trader’s optimism is decreasing, which may cause further decline in the Hyperliquid price.
The falling open interest and negative funding rates suggest weakening trader confidence in HYPE.
Author's summary: The Hyperliquid price drops due to bearish pressure.