HYPE Rally Accelerates Above $60 As High-Profile Whale Quietly Builds His Position

Garrett Jin's perps positions on Hyperliquid | Source: Hypurrscan.io

On the short side, Jin holds 57,460 ZEC worth approximately $38 million — a position currently down approximately $2.11 million, representing a deliberate bet against Zcash that he has maintained through that unrealized loss rather than cutting at the first sign of pressure. The willingness to hold a losing short reflects the same conviction management that characterizes his track record.

The combined picture describes a trader running approximately $77 million in active directional positions across three assets simultaneously — while systematically adding to HYPE through an automated accumulation order. This is not a casual allocation or a momentum chase. It is a calculated addition to an already substantial and actively managed book from the same participant who identified October’s crash before it happened.

HYPE Enters Price Discovery After Explosive Breakout

HYPE has entered a powerful price discovery phase after breaking decisively above its previous all-time highs near the $50 level. The daily chart shows a clear acceleration in momentum over the past two weeks, with buyers reclaiming control after months of consolidation and gradually building higher lows since March. The breakout above the previous resistance zone triggered an explosive expansion move that pushed HYPE toward the $65 region, confirming one of the strongest trend structures currently visible across the crypto market.

HYPE consolidates above its previous ATH | Source: HYPEUSDT chart on TradingView

What makes the move particularly significant is the combination of price strength and volume expansion. Recent candles show rising participation as HYPE pushed vertically higher, suggesting the rally is not occurring on thin liquidity alone. Volume increased aggressively during the breakout, reflecting strong market interest and sustained buying pressure rather than a temporary short squeeze.

Technically, HYPE remains firmly above the 50-day and 100-day moving averages, both of which are now trending upward and acting as dynamic support zones. The 200-day moving average sits far below current price levels near the mid-$30 range, highlighting how extended the current bullish structure has become.

As long as HYPE holds above the former breakout area around $56–$58, bulls maintain control of the trend. However, after such a sharp expansion, volatility and profit-taking risk are likely to increase substantially in the short term.

Featured image from ChatGPT, chart from TradingView.com