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HYPE price rises above $57 as Bitwise buys $1.52M tokens and exchange outflows reduce supply.

Market News
13 Aug 2026
Blockonomi
View Source
Bullish
HYPE price rises above $57 as Bitwise buys $1.52M tokens and exchange outflows reduce supply.

HYPE price climbed to around $57.33, marking a 4.09% gain after Bitwise purchased 28,085.8 tokens worth $1.52 million and moved them to its custody wallet, reducing tokens available on exchanges. Exchange netflows were negative $1.46 million, indicating more withdrawals than deposits, tightening sell-side liquidity. Short liquidations outpaced long ones, suggesting some buying pressure, but total liquidations remain modest, so a broad short squeeze is unlikely. Hyperliquid is exploring regulated U.S. access for perpetual futures, but no approval from regulators has been granted yet. The price faces resistance near $57 to $58.38, with a confirmed close above these levels needed to target $60 and beyond.

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