HYPE Surges Past $65 as Whale Garrett Jin Amasses $11.5M via TWAP

HYPE has ripped past its prior all-time high and briefly touched $65 in a blistering breakout that’s caught the wider market’s eye — particularly because of who’s been quietly accumulating into the move. Hyperliquid data shows prominent trader Garrett Jin — the same whale who famously put on a $735 million short just before the October 10 crash — has been buying HYPE over the past several days. His purchases total 145,050 HYPE for roughly $9.05 million, and he has an automated TWAP (time-weighted average price) order in place to buy another 39,940 HYPE, worth about $2.44 million. In other words, Jin has already amassed about 184,990 HYPE for roughly $11.5 million and is systematically building more regardless of short-term price swings. Why that matters: TWAP orders aren’t knee-jerk trades. They’re deliberate, mechanical accumulation strategies designed to build a position over time without pushing the market. That suggests Jin’s buying is premeditated conviction, not a reactive momentum chase — notable coming from the trader who correctly bet on October’s crash. Context inside Jin’s book Hyperliquid’s snapshot also shows Jin is running a sizable, multi-asset book rather than shifting his focus solely to HYPE: - Long: 504.4 BTC (~$38.9 million) — a meaningful bet on Bitcoin’s recovery. - Short: 57,460 ZEC (~$38 million), a position currently about $2.11 million underwater. Taken together, Jin is managing roughly $77 million in active directional exposure across three assets while adding HYPE to that lineup. That scale and the mixed directional bets underscore this is an actively managed, risk-aware strategy — not casual speculation. Price action and technicals HYPE has entered genuine price discovery after clearing its prior resistance around $50 and accelerating into the mid-$60s. Key technical takeaways: - Momentum: Buyers reclaimed control after months of consolidation, producing a series of higher lows since March and a sharp expansion move during the breakout. - Volume: The breakout came with strong volume, indicating significant participation rather than a thin-liquidity spike or isolated short squeeze. - Moving averages: Price sits well above the 50- and 100-day moving averages, both now sloping upward. The 200-day MA remains down near the mid-$30s, highlighting how extended the rally has become. - Support: As long as HYPE holds above the former breakout zone (~$56–$58), bulls retain the technical edge. However, rapid gains typically bring heightened volatility and profit-taking risk in the near term. Bottom line The combination of a decisive breakout, rising volume, and systematic accumulation by a high-profile trader who correctly wagered before October’s crash adds an extra layer of conviction to HYPE’s rally. That doesn’t eliminate downside risk — especially after such a fast run — but it does mean the recent price action is being backed by deliberate, sizable buying from a market participant with a track record.