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 under selling pressure with a bearish mood across the derivatives market.
- Daily trading volume: down 15%
- Open interest: decreased by 6.42% to $1.45 billion
- Trading volume: down 15.63% to $1.49 billion
The falling open interest and negative funding rates suggest weakening trader confidence in HYPE.
HYPE’s long-to-short ratio has dipped below 1 to 0.8748, indicating intense bearish sentiment, which may cause further decline in the Hyperliquid price.
Author's summary: Hyperliquid price drops 5% due to bearish pressure.