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Hyperliquid drops 10% to $41 amid whale long position and rising market volatility

Market News
16 May 2026
AMBCrypto
View Source
Bearish
pluang ai news

Hyperliquid (HYPE) surged to $47 before sharply falling to $41, down 10.4% amid strong bearish pressure. A whale investor took a large 180,000 HYPE long position with 10x leverage worth $7.78 million, signaling optimism for a rebound. However, increased liquidations and sell-side pressure in futures markets have pushed the price close to the critical $40 support level, with risks of further decline to $38 if downward momentum continues. Traders are watching to see if the $40 support holds or if HYPE will recover to $44 after this correction.

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