【Hyperliquid What is actually going on now?】

Summary in one sentence: Still grinding at the bottom, and it’s not easy.📉

#BTC has attempted to surge to over $94,000 multiple times but has failed; market sentiment is clearly cold, making it difficult for HYPE to perform well. On-chain data is also lacking; Dune shows that active users and trading volume have been declining since October, and the heat has noticeably cooled. The monthly unlocking and repurchase plan that everyone discussed before is unlikely to become a 'lifesaver' in the short term, as the market conditions are poor and the effect is limited.

From the price structure, the daily chart still shows a downtrend, with resistance levels at $29.88 and $30.68 that are hard to break. The 4-hour chart looks more like it's in a range-bound fluctuation: capped at $29.9 above and supported at $27.2 below.

It’s important to note that the OBV has been continuously declining, indicating that selling pressure is actually persistent; sideways movement does not equal safety. The liquidation data is also quite interesting: overall leverage for shorts is slightly higher, but in the range of $26.5 to $27, the concentration of liquidations for longs is higher.

So don't rush to pick a side in the short term; it feels more like waiting for a 'liquidity sweep' action—either a surge to $31 or a drop to $26.5 first. Wait for the first wave of sentiment to pass before looking for opportunities in the opposite direction; it might be more comfortable than rushing in blindly now.

(This is just a personal opinion and does not constitute investment advice) #加密市场反弹