Crypto Markets Steady After Fed Pause as HYPE Token Surges 65%
Bitcoin hovered near $93,000 on Thursday. After the Federal Reserve left rates unchanged. However, the day’s real noise came from somewhere else. Hyperliquid’s HYPE token. It jumped about 65%. Over the week. To roughly $34.
Meanwhile, the total crypto market cap held near $3.24TN. Up about 7% year to date. Therefore, risk appetite looked intact. Even as macro headlines stayed prickly.
ETF flows helped set the tone. Spot Bitcoin funds took in $1.42BN last week. With BlackRock’s IBIT pulling in about $1BN. As a result, traders treated the Fed pause differently. Less like a turning point. Rather, more like a green light. To keep buying dips.
Even so, positioning looks less comfortable. Than price suggests. And that matters. Into month end.
Bitcoin Shakes Off Pressure, Eyes $95K Rebound
Rates on hold kept something in view. The Trump-Powell clash. Yet crypto traded it with a shrug. Instead, the near-term focus sat on something else. The plumbing. About 22% of Bitcoin supply held by short-term holders remains underwater. This hints at something. A liquidity reset.
However, BTC also bounced sharply. From the $80,000 area. Which left momentum traders hunting something. A quick push back. Towards $95,000.
Market Dynamics
Cathie Wood framed the recent wobble as something. A shakeout. Before the next leg higher. Meanwhile, corporate buying stayed in the story. Strive moved into something. The top 10 corporate Bitcoin holders. After fresh purchases. Additionally, debt reductions.
That sort of behavior acts like a floor. On bad days. Although it can also concentrate sentiment. Into crowded trades.
Key Bitcoin Metrics
BTC around $93,300. After rebounding from the $80,000 region.
Spot Bitcoin ETFs: $1.42BN inflows last week. Led by IBIT at about $1BN.
Short-term holders: Roughly 22% of supply is in loss.
HYPE Explodes on Commodities Frenzy
Hyperliquid’s HYPE token stole the session. It surged through $33. And printed near $33.80. With some screens showing +24% to +28%. On the day. The move tracked something. A burst of activity. In commodities perpetuals. On the platform.
Silver perps hit about $1.25BN. In daily notional. At points? Topping even BTC volumes. On Hyperliquid. Meanwhile, large wallets reportedly deposited around $45M. As the rally accelerated.
Structural Catalyst
The catalyst was structural. As well as speculative. HIP 3 upgrades route about 97% of fees. Into HYPE buybacks. Additionally, burns. Which mechanically tightens supply. When volumes spike. Therefore, commodities volatility became something. A token catalyst. Not just a trading feature.
Jeff Yan, Hyperliquid’s co-founder, described the venue as something. A place for liquid price discovery. That claim now has charts. To back it up. At least for the week.
Technical Picture
Technicals look stretched. RSI sat above 70. On several timeframes. Which often invites something. A sharp pullback. However, traders will watch whether HYPE can clear $35 cleanly. Above that? The market talks about something. A wider resistance band. Near $48 to $50.
A strong break could open a run. Towards $42. On the way. Although that target depends on something. Volumes staying elevated.
Asset Performance Table
| Asset | 24h Change | Price | Key Driver |
|---|---|---|---|
| HYPE | +24% to +28% | $33.80 | Silver perps volume, buyback mechanics |
| BTC | +5% | $92,300 to $93,300 | ETF inflows, post-Fed steadiness |
| ETH | +7% | $3,180 | Rotation into large caps |
| SOL | +7% | $133 | Alt rebound with improved sentiment |
XRP in Spotlight: ETF Flows and Tariff Talk
XRP also found a bid. As traders watched early spot ETF flow chatter. With inflows flagged near $7M. Meanwhile, an $11BN manager’s longer-dated call circulated. Of a 50% rally. By 2026. In desks. Additionally, chats.
Policy debate kept cutting through too. Trump’s tariff talk revived something. The old question. Of whether crypto wins. In a messier trade regime. Or whether risk assets simply get dragged lower.
On the chain side, XRPL was touted as hitting about $1BN. In assets. That number matters. Why? Because it speaks to usage. Not just price. Although it can still be cyclical.
Corporate and Regulatory Moves Heat Up
Product launches kept coming. Additionally, rule-making. Bybit said it will launch retail banking. With IBAN accounts. In February. Pushing deeper into the borderland. Between crypto. Additionally, traditional finance.
Fidelity unveiled an FIDD stablecoin. Meanwhile, Russia floated stricter exchange licensing. By 2027. And Fairshake PAC reported $193M raised. From Ripple. Additionally, Coinbase. Furthermore, a16z. Moreover, Gemini.
Notable Developments
Optimism approved OP buybacks. Funded by Superchain revenue.
Coinbase expanded Kalshi prediction markets access. To all 50 states.
Sony Ventures invested $13M. Into Startale. For Soneium.
Altcoin Tests and Warnings
Not every chart looked cheerful. Dogecoin flirted with the $0.12 area. Around its 350-day moving average. A level some traders treat as something. Capitulation risk.
Meanwhile, Vitalik Buterin highlighted user experience flaws. That still pinch Ethereum wallets. Even as ETH rallied. With the tape. Worldcoin bounced. On OpenAI biometric tie-up rumors. Which shows how quickly narratives still whip prices around.
Overall, fear gauges eased. And liquidity looked better. Yet leverage remained the lurking risk. BTC funding was cited around +0.42%. With longs outnumbering shorts. By about 2.17 times. Therefore, a sudden drop could still trigger something. Forced selling. Even in a constructive trend.
Key Takeaways
BTC bulls want $95,000. Yet underwater short-term supply raises the odds. Of sharp shakeouts.
HYPE is trading volume plus tokenomics. So watch perps activity. As closely as price.
$35 is the near-term HYPE line. While $48 to $50 reads like the magnet. If momentum holds.
ETF inflows remain the cleanest sentiment read. For BTC. In this tape.
Positive funding means dips can be buyable. Although they can also be violent.
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