The first-ever clean outflow of $2.9 million from the hype ETF Bitwise ($BHYP) has marked an official cooling of retail and institutional interest in the Hyperliquid ecosystem. Despite some local profit-taking, the total net inflow into the fund remains solid at $89.4 million, indicating that the sell-off is more technical in nature rather than a shift in the global trend.
This local pressure puts the short-term pump of the HYPE token at risk, but the strong fundamentals of the fund make the current derisking a healthy consolidation before a new wave of liquidity distribution.
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