HYPE hit $73.7 all-time high as ETFs and buybacks dey drive short squeeze

Hyperliquid HYPE jump reach about $73.7 on June 1, new all-time high, extend gains about 70% inside one month. Traders dey link the breakout to fresh spot ETF inflows, Hyperliquid buyback mechanism, and growing leveraged short pressure. For policy side, US CFTC approve federally regulated Bitcoin perpetual futures route via Kalshi, people see am as validation for perpetual derivatives market — this one add positive read-through for HYPE. Hyperliquid don also expand beyond perps with native prediction markets wey tie to fully collateralized real-world event contracts. Fundamental demand for HYPE for the article focus on fee-to-buyback design: about 98% of trading fees dey go into an Assistance Fund wey buy HYPE for open market. The report still estimate say about 14% of circulating supply don remove from active markets. Positioning add more fuel, as whale trader “Loracle” cut big HYPE short after losses pass $30m, intensify short-squeeze dynamics. Technically, HYPE dey trade well above 50-day and 200-day moving averages. Upside targets dem mention include $97 and $163, but liquidation heatmaps show dense short liquidity around $75–$77. If e break down steady below $70, risk of pullback to $64–$60 dey increase. For traders, key be whether HYPE fit clear $75–$77 pocket while open interest and buying pressure still high.