Hyperliquid Moves Higher Following Arthur Hayes’ Endorsement

• HYPE rises over 5% as buyers step in following Arthur Hayes’ endorsement.
• Token unlocks absorbed without selling pressure, showing strong market demand.
• Technical levels and ongoing buybacks could support further upside for Hyperliquid.

Hyperliquid — HYPE, gained over 5% in the past 24 hours, trading near $38.28. The broader crypto market also recovered, with Bitcoin rising more than 4% during the same session. Trading volume surged 50%, reaching nearly $288 million, suggesting new buyers entered rather than just existing holders moving positions. Arthur Hayes, co-founder of BitMEX, publicly called HYPE “the only thing we’re buying right now,” sparking renewed attention for the token.

Market Activity and Hayes’ Conviction

Arthur Hayes has maintained a price target of $150 for HYPE by August 2026, implying roughly a fourfold increase from current levels. He cites Hyperliquid’s revenue model as a key reason for confidence. The platform returns 97% of revenue to buy back HYPE tokens from the open market, creating consistent demand for the token. On April 6, approximately 9.9 million HYPE tokens were released to core contributors through a scheduled unlock. Events like this often trigger selling pressure, but the price held steady, indicating the market had already absorbed the additional supply.

Open interest on the Hyperliquid platform remains strong at over $2.3 billion, highlighting active participation from traders. The platform has also expanded into tokenized real-world assets, including oil futures. These markets record billions in trading volume, further reinforcing confidence in HYPE’s utility. Hayes has sold other tokens while buying HYPE, including ETHFI and AUKI, demonstrating selective conviction in this project over alternatives.

Technical Outlook and Broader Market Support

HYPE faces immediate resistance near $38, with a confirmed move above that level potentially opening a path toward $41.27. Short-term support sits at $36.38, and a break below could push the price closer to $30. Traders are closely watching these levels as market activity remains elevated. The broader crypto rally has benefited from improving US regulatory sentiment, including discussions around a potential “Reg Crypto” framework and Morgan Stanley’s launch of a spot Bitcoin ETF.

These developments add confidence to market participants and provide additional context for Hyperliquid’s momentum. Protocol-level buybacks through the HIP-4 fee model continue to operate, providing further support for HYPE’s price. Overall, HYPE has shown resilience despite recent token unlocks, with strong buying from Arthur Hayes and steady market demand. Traders are now watching technical levels and open interest as indicators for potential upward moves.

With momentum returning, Hyperliquid could attract even more attention in the coming weeks, especially if buyers continue to defend key support zones. For now, Hyperliquid’s HYPE gained over 5% as buyers pushed above $38. Arthur Hayes endorsed HYPE, highlighting the token’s revenue-driven buybacks. Token unlocks were absorbed without selling pressure, showing market strength. Technical levels and strong open interest could guide HYPE’s next move upward.