Hyperliquid price rose 4% to $60.93 in 24 hours, outperforming Thursday’s flat Bitcoin market.
This happened when Bitcoin price Its price settled above $63,000, and Ethereum was trading in the $1,600 region.
HYPE has gained nearly 50% over the past month, supported by increased trading volume and confidence in the market.
The new order followed the launch of Kalshi Hype regulated by the Commodity Futures Trading Commission (CFTC). Perpetual futures contracts for US traders on June 12, 2026.
The recent rally was also preceded by the introduction of perpetual trading on Hyperliquid and Trade.xyz infrastructure by Fomo.
The platform now allows its users to trade equity contracts, pre-positions, cryptocurrencies, indices, and perpetual commodities, all within one platform.
This growth has brought Hyperliquid into greater contact with larger speculative markets, such as pre-IPO exposure.
Arthur Hayes points out the risks of a SpaceX IPO
Arthur Hayes also caught his attention when he pointed out SpaceX IPO As a classic cryptocurrency.
He warned that insiders may start selling to meet retail demand as early as July.
His comments came as traders bet on exposure to SpaceX using the SPCX synthetic hyperliquid perpetual market.
Implied valuation of market data observed in hyper-liquidity data indicates an increase in the implied valuation of a company above its IPO price.
The Latest: ⚡ Arthur Hayes called SpaceX’s IPO a “classic crypto scam,” and predicted insiders will start dumping retail traders in July. pic.twitter.com/yPAMiEeS53
— CoinMarketCap (@CoinMarketCap) June 12, 2026
This has focused on speculative flows and drawn more focus to markets associated with super liquids.
Currently, HYPE is supported by regulatory momentum, enhanced access, and commercial demand related to SpaceX.
When buying pressure persists, bulls can target the next higher resistance levels in the following sessions.
However, the price may return to recent support levels due to weak sentiment.
Hyperliquid HYPE’s open interest rises as trader activity grows
Activity in highly liquid HYPE derivatives has been enhanced as traders have increased exposure to key areas of the market.
Trading volume increased by 1.71% to $3.89 billion, indicating a recovery in demand. Open interest rose 4.27% to $2.57 billion indicating new positions were added to the market.
Increases in open interest indicate greater investor commitment, rather than turnover. Market participants can now observe if volume grows larger to ensure continued momentum.
However, volatility may also rise as open interest increases if sentiment changes quickly.
Is Hyperliquid price targeting $70 as momentum improves?
HYPE price rose to $60 as traders defended a short-term advance channel. This trend was preceded by a reversal at the 55 support area, where demand returned.
The position maintains a positive short-term perspective as long as HYPE remains above $55. A break above 65 could be the gateway towards the next upside target at around 70 according to market expectations Full HYPE forecast report.
The RSI was around 56 indicating greater momentum but not indicating overheated markets.
Chaikin Money Flow was slightly positive with 0.01. This indicates weak capital flow but buyers still need more volume.
If HYPE price loses the $55 support, sellers may target the $50 area next. A further break will undermine the current recovery system.
Currently, traders are monitoring the $65 resistance level. A break out of that area would establish further upside to $70.
