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HYPE drops by 10 percent after profit call, Joao Wedson notes

HYPE drops by 10 percent after profit call, Joao Wedson notes
Hyperliquid HYPE sees profit-driven drop

Joao Wedson reported that Hyperliquid HYPE declined by approximately 10 percent after he identified 63 dollars as a favorable level for taking profits.

He also remarked that, even if HYPE begins to rise again, opposing Bitcoin in the current environment carries significant risk, particularly as social interest remains high.

Wedson has previously noted that aggregated open interest declined as institutional positions were unwound since May 5, according to his recent commentary. He has also identified a trend among on-chain analysts toward analysis influenced by manipulated crypto narratives over recent years, raising caution in a separate report. These observations have coincided with heightened scrutiny of trading levels and social sentiment in the crypto market.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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