Key Insights:
- A whale recently deposited $20 million USDC into Hyperliquid and has been accumulating $HYPE using a dollar-cost averaging strategy.
- This comes amid popular traders like @qwatio and James Wynn suffering hundreds of millions of dollars in liquidations.
- $HYPE could be in for a short squeeze towards anywhere between $45 and $70.
Hyperliquid, the decentralized futures trading platform, has become one of the most popular playgrounds for whales. Over the last few months, there have been whale purchases, gains and even losses worth billions of dollars.
Despite recent reports of whale @qwatio losing $10 million only last week and popular whale James Wynn losing $100 million in a single trade, more and more whales seem to be jumping in.
According to new updates, another whale has splashed $20M $USDC into Hyperliquid again, and has since spent $5.97M to purchase 165,366 $HYPE. Here’s how this whale-leverage craze is playing out, and what it could mean for the price of $HYPE.
Whale Splashes $6 Million on HYPE
According to recent reports from on-chain analytics platform, SpotOnChain, the early hours of Thursday saw a single whale deposit $20M $USDC into Hyperliquid.
This whale then spent $5.97M to purchase 165,366 $HYPE at an average price of $36.08.
Massive $HYPE purchase detected!
7 hours ago, a whale deposited $20M $USDC into #Hyperliquid and has since spent $5.97M to purchase 165,366 $HYPE at an average price of $36.08.
The accumulation appears to be ongoing.
Let’s follow @spotonchain for more updates now!… pic.twitter.com/oALO0TLB0F
— Spot On Chain (@spotonchain) June 27, 2025
However, this whale didn’t stop there.
Considering the size of the initial $20 million deposit, this investor appears to be favoring a dollar-cost averaging strategy. As of writing, the whale in question has added to their bet, and now has an $8.1 million position on $HYPE.
They also have an unrealized profit of ~$162,000, in what appears to be a profitable trade.
Not Every Whale Has Been So Fortunate
Only a day earlier than this $20 million deposit into HyperLiquid, another trader identified as @qwatio reportedly bet big and suffered a massive loss.
According to insights from LookOnChain, like James Wynn, @Qwatio is known for making risky Hyperliquid bets, which have led the crypto community to speculate that he might be an insider.
For example, only a day before President Trump announced the Crypto Strategic Reserve, he went long on BTC and ETH with 50x leverage. This allowed him to gain as much as $6.8 million in profits in one day.
Soon after this, he withdrew these profits, and then liquidated ETH positions worth $305 million right before the massive crash. However, things quickly fell apart soon after, with this trader getting liquidated 6 times in just 3 days to the tune of $10 million.
HYPE Price Prediction: Is a Major Short Squeeze to $70 on the Horizon?
Recently, HYPE suffered a wave of volatility that pushed it down towards $33. However, this was no mere dip. Instead, it served as a shakeout that triggered fear across the board.
Additionally, instead of breaking down further, the token has bounced and is now attempting to reclaim support levels around $34–$36. This rebound has flipped market sentiment, because what initially looked like a bearish pullback now looks like a healthy retracement.
One of the most interesting factors that has been driving interest in HYPE right now is the unusual imbalance in liquidations. While most of the crypto market has been dealing with long liquidations, HYPE is currently one of the only top-10 tokens where short liquidations have outpaced longs.
According to crypto analyst @CryptosBatman on Twitter (X), HYPE recently broke out of a long downtrend months ago.
Been watching $HYPE closely
It broke out of that long downtrend months ago, went on a solid run and now it is pulling back right into support.
This zone around $36–38 is super important. If it holds and flips back up, $45+ is very much on the table.
Not rushing in I'm Just… pic.twitter.com/lMSnDYL5z4
— BATMAN ⚡ (@CryptosBatman) June 26, 2025
Soon after this, it has been in a recovery phase and is now attempting to find support. The analyst went further to add that the zone around $36–38 is very important, because if HYPE manages to hold on to it, a flip to the upside towards $45+ is “very much on the table.”
