Hyperliquid (HYPE) is facing selling pressure, trading near $81.36 after retreating from recent highs. The pullback comes as market participants monitor a significant whale transfer and concentrated leveraged positions around key price levels.
Major Whale Transfer to Kraken
A large HYPE holder transferred 100,276 tokens worth approximately $8.17 million to a Kraken deposit address, according to on-chain data. The transaction follows earlier transfers from the same wallet, signaling potential selling pressure.
On-chain analysis indicates the wallet accumulated 257,928 HYPE at an average price of around $3.50 approximately two years ago. While transfers to centralized exchanges indicate preparation for a potential sale, they do not necessarily guarantee immediate selling pressure. The actual market impact will depend on whether further exchange deposits occur, actual sell transactions execute, and how HYPE price reacts around support levels.
Liquidation Clusters Create Price Risk
HYPE's liquidation map reveals several areas where leveraged positions could amplify price movement. Notable liquidation clusters exist below the current price between $79.66 and $80.29, and above it between $82.99 and $85.51.
A failure to hold above $80 could trigger liquidations of leveraged long positions, potentially accelerating a decline. Conversely, a sustained move above $82.99 could expose short positions to liquidation, adding buying pressure as bearish traders close positions.
The $80 Level in Focus
HYPE is approaching the critical $80 support level as traders assess whale activity and leveraged positioning. The token currently trades near $81.36, placing it close to this psychological threshold.
If buyers defend the $80 area, HYPE could attempt to recover toward the $82.99–$83.62 range and broader $85.51 resistance. A breakdown below $80 could expose lower liquidation clusters at $79.66–$80.29, with further support zones at $78.40–$79.03 and the $69–$75 region.
For now, the $80 level remains an important area to monitor rather than confirmed support. The price direction will depend on buyer demand, selling pressure, and market reaction to nearby liquidation levels.
