Hyperliquid whale sells $1.8M HYPE amid bearish momentum, but price briefly rebounds above $40.

A major Hyperliquid whale named Cooker.hl sold 45,786 HYPE tokens for $1.8 million in USDC at an average price below $40, signaling market fear amid a downtrend. Despite this large sale and bearish momentum indicated by technical indicators like the Aroon and Stochastic Momentum Index, HYPE briefly rebounded above $40. However, the overall market remains weak due to reduced perpetual market activity and higher futures selling volume, suggesting the rebound may be short-lived unless HYPE closes above $40 daily to confirm a trend reversal.