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$HYPE is down ~5.5% to $69 in the last 24 hours, and the timing makes it more interesting than the number itself. US HYPE Spot ETF pulled in $2.99M in net inflows on June 3. Demand is still showing up. On the other hand, Arthur Hayes exited his entire $HYPE position this week. His reasoning: AI IPOs are incoming, energy prices are rising, and markets are likely to peak before September. ETF inflows are coming in while one of crypto's most-watched names is walking out. Two very different signals at the same time. That gap is worth paying attention to.

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