Hyperliquid (HYPE) has plunged over 9.3% in the last 24 hours, with a sharp price drop leading to massive liquidations of up to 19,420% on its hourly chart, due to the failure of bullish rebound bets. Long traders lost $1.3 million in one hour, while shorts faced liquidations of $6,660. HYPE is currently trading at $24.43, with its Relative Strength Index (RSI) near the oversold region at 28.93, and the key support level at $24. Despite the sell-off, trading volume surged by 46.49% to $534.33 million. Additionally, Bitwise Asset Management has submitted an application to the U.S. Securities and Exchange Commission (SEC) to list the Hyperliquid ETF on the New York Stock Exchange (NYSE) and Nasdaq, which could promote the future development of such ETFs.

#SEC #ETF