HYPE gains 3% as Arthur Hayes denies buying 33,978 tokens after reported $2.09M Bybit withdrawal and $72 selloff.
HYPE rose as traders reacted to a disputed claim about Arthur Hayes and a reported Bybit withdrawal. The token also recovered from recent heavy selling after falling below $56.
Meanwhile, market data showed stronger volume and long-leaning positioning. A price rebound near $61 also suggested several factors shaped the latest HYPE move during active trading.
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Hayes Denies Reported HYPE Buyback
A widely shared post claimed Arthur Hayes bought back 33,978 HYPE. The post valued the tokens at about $2.09 million. It also said the tokens came from Bybit.
According to the post by Lookonchain, the withdrawal happened about 40 minutes before the claim spread online. The account described the wallet as linked to Arthur Hayes. However, Hayes did not confirm that link.
Arthur Hayes(@CryptoHayes) just bought back 33,978 $HYPE($2.09M)!
4 days ago, he posted that he dumped his entire $HYPE to take profit when the price was above $72.$HYPE then dropped ~23% to below $56.
40 minutes ago, a wallet linked to #ArthurHayes withdrew… pic.twitter.com/umxyHLp9Vm
— Lookonchain (@lookonchain) June 8, 2026
The same post said Hayes sold his full HYPE position four days earlier. It said he took profit when HYPE traded above $72. After that, HYPE fell about 23% and dropped below $56.
Hayes later rejected the report in a direct public response. He wrote, “I didn’t buy shit,” denying the claimed buyback. As a result, traders questioned the wallet link and the timing.
HYPE Rebounds After Sharp Selloff
According to Coingecko data, HYPE recently traded near $61.28, showing a 3.0% gain over 24 hours. In addition, the token gained 1.0% against Bitcoin. That move showed strength beyond the wider market.
Earlier, HYPE fell from above $72 to below $56. Therefore, some traders likely viewed the lower area as a bounce zone. Fast drops often attract buyers when selling pressure slows.
The daily range showed support near $57.17 and resistance near $63.23. Meanwhile, HYPE traded closer to the upper side of that range. This placed buyers near an important short-term test.
Still, the rebound did not rely on the Hayes story alone. Technical buying also helped after the deep pullback. As a result, traders watched whether HYPE could hold above $60.
Read also:
HYPE Valuation Model Uses Revenue Buybacks and Onchain Cash Flow
Volume and Trader Positioning Support Market Move
Trading activity also added context to the HYPE move. The token showed about $778 million in 24-hour volume. High volume can support wider price movement during active sessions.
CoinGlass data showed HYPE trading near $61.28, while derivatives data showed 40,729 long traders and 21,389 short traders. Therefore, long traders remained nearly twice as many as short traders. The long-short trader ratio stood near 1.9042.
However, that ratio stayed at earlier crowded levels. This showed bullish positioning without extreme long exposure. It also reduced the chance of immediate pressure from one-sided trades.
Together, the wallet claim, Hayes’ denial, technical rebound, and volume shaped the move. For now, traders are watching the $63.23 resistance area. A clear move above that level could extend attention on HYPE.
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