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.
- Trading volume has decreased by 15.63% to $1.49 billion.
- Open interest has decreased by 6.42% to $1.45 billion.
- Long-to-short ratio has dipped below 1 to 0.8748, indicating intense bearish sentiment.
The falling open interest and negative funding rates suggest weakening trader confidence in HYPE.
This outlook reveals that trader optimism is decreasing, which may cause a further decline in the Hyperliquid price.
Author's summary: Hyperliquid price drops due to bearish pressure.
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