HYPE Price Drops 15% Amid $150M Whale Unstaking and ETF Outflows

• Whale unstaking of $150 million has increased concerns about potential selling pressure.
• ETF outflows and bearish indicators continue weakening HYPE’s short-term momentum.
• Holding $54 to $55 support could trigger a rebound toward $63 and beyond.

Hyperliquid — HYPE, has entered a difficult period after posting one of the strongest performances this year. HYPE recently traded near $70 before falling sharply toward the $58 region. The sudden decline has caught many traders by surprise. Large whale transactions, weaker institutional demand, and bearish technical signals have all contributed to growing uncertainty. Even so, HYPE remains one of 2026’s best-performing cryptocurrencies despite the latest correction.

HYPE has fallen roughly 15% during the past week, including a 7% decline over the last day. Even after that pullback, the token still holds gains of more than 129% since the beginning of 2026. Such performance highlights how strong the earlier rally had become before recent selling pressure appeared.Much of the latest weakness follows several major unstaking transactions involving well-known crypto investment firms.

According to Lookonchain, Multicoin Capital transferred nearly 400,000 HYPE tokens to Coinbase Prime while requesting another 212,000 tokens for unstaking. Additional blockchain data revealed that three Multicoin wallets unstaked almost 1.96 million HYPE worth approximately $120 million after holding those positions for nearly two months.

The timing attracted attention across the crypto community. Only weeks earlier, Multicoin had published a bullish report projecting a long-term HYPE price target of $319. On-chain data suggests average purchases occurred near the $30 level. Selling near current prices would produce significant profits, leading many traders to question whether profit-taking has already started.

Institutional demand has weakened alongside whale activity. Spot HYPE ETFs recorded net outflows of 11,210 tokens on July 21. Earlier in the month, investors withdrew more than 90,000 HYPE during the largest daily outflow. Continued withdrawals may reduce buying support during the coming sessions. Technical indicators also reflect growing caution. HYPE recently broke below support from a symmetrical triangle pattern that guided price action for several weeks.

The Relative Strength Index has fallen near 40, showing weaker momentum. Meanwhile, the Chaikin Money Flow indicator has turned negative, suggesting capital continues leaving the market. The next important support sits between $54 and $55. Buyers must defend that area to prevent additional weakness. A successful rebound could lift HYPE toward $63 before another attempt at the $67 to $70 range.

Failure to hold support could expose the token to another decline toward $48. Current market conditions remain mixed. Whale activity continues attracting attention across the crypto market. Technical indicators favor caution in the short term. The next few trading sessions should reveal whether buyers regain control or sellers extend the correction further.