Smart Money Keeps Buying HYPE Despite Rising Market Fear – Price Holds Above $70 Level
HYPE is holding above $70 despite broad crypto weakness, showing relative strength as Bitcoin and Ethereum struggle. On-chain data shows institutional accumulation: Galaxy Digital withdrew 179,000 HYPE, worth about $12.6 million, from Coinbase, and a new wallet, 0x6436, withdrew 135,824 HYPE worth about $9.7 million. The wallet has accumulated nearly 400,000 HYPE, or about $28.9 million, in two days. Combined exchange outflows exceed $40 million, suggesting continued buying rather than selling. Technically, HYPE remains in a strong uptrend, recently hitting a new all-time high near $74 before easing slightly. Price sits above its 50-day, 100-day, and 200-day moving averages, with bullish alignment intact. The $60–$65 breakout zone has held, and $70 is the key near-term support. If that level holds, further price discovery remains possible; a drop below it could lead to a deeper pullback toward the 50-day average.
