Hyperliquid Price Surge: Are Retail Traders the Real Power Behind HYPE Unexpected Rally?

The world of crypto is no stranger to power struggles, but what’s happening with HYPE right now feels like a battlefield. In one corner, two high-stakes whales are going head-to-head over where the token will move next. On the other hand, thousands of retail traders are banding together, and they might just be tipping the balance.

Over the last month, HYPE has exploded with bullish momentum, climbing over 13%. But in the last 24 hours, that rally has paused slightly, with the HYPE price today up just 0.25%. Some analysts are calling it a breather, others say it’s the calm before another storm. And with the Hyperliquid price surge still fresh in the market’s memory, all eyes are on what happens next.

But it isn’t just whales making noise. Retail derivative traders have entered the chat, pushing market volume higher and positioning themselves for a continued upward trajectory. The question now is, can this crowd movement overpower the whales betting against HYPE?

Who Are the Whales Battling Behind the Scenes?

The Hyperliquid Whale Tracker reveals two massive positions going in opposite directions. One whale has taken a strong long position on HYPE, betting on another leg upward. This bullish whale entered with $15.54 million for $11.93. With the market now at $18, they are sitting on a 34.59% gain, but they’re not out of the woods yet.

On the flip side, another whale has gone short with a $12.80 million bet opened at $14.209. As of now, this trader is down more than 22%. If HYPE breaks through further, the short whale could face liquidation, with their cutoff at $25.95.

While the profit and loss stats are intriguing, they don’t tell the whole story. Crypto markets are famous for flipping in a blink, and traders are watching closely for any signals.

Are Retail Traders the Real Power Behind HYPE?

Retail activity is skyrocketing. According to Coinglass, most retail derivative traders are taking long positions, aligning with the HYPE bullish chart that’s been developing over the past week. This signals growing confidence among smaller investors, and they could be the key force behind the current Hyperliquid price surge.

Chart 1- HYPE Volume-Weighted Funding Rate, published on Coinglass, April 23, 2025.  

Market volume has jumped by 5.73% in the last 24 hours, hitting $274.91 million. Alongside that, the Volume-Weighted Funding Rate has remained positive since April 20, meaning that long positions are dominant, and traders expect further gains in HYPE.

When retail and volume collide with optimism, the market has a way of responding, and right now, it’s looking bullish.

What Does the Data Say About HYPE’s Direction?

The funding rate, currently at 0.0099%, tells us that long traders are paying a premium to short traders, indicating a willingness to hold onto bullish bets. This supports the ongoing upward momentum and could widen the gap between spot and futures prices if bullish sentiment keeps rising.

Chart 2- HYPE Funding Rate History Chart, published on Coinglass, April 23, 2025. 

Liquidation data backs this up. Over the past 12 hours, short positions saw $37,230 in losses compared to just $5,530 for long traders. That imbalance shows how the pressure is mounting against bears, and how strongly the bulls are positioned.

Another key signal is Open Interest, which has returned to its February highs. This shows that overall trader engagement is surging, with most of it stemming from long positions aiming for further highs.

Can HYPE Break Through Price Resistance?

The next big test for HYPE is whether it can push past its current level and challenge the next key HYPE price resistance. If retail traders stay locked in and volume continues to climb, that break could come sooner than many expect.

However, volatility remains. The clash between a confident, bullish crowd and a whale betting against them could lead to sharp swings. But if the crowd continues to rally and maintain the momentum, the bearish whale may face a forced liquidation, a potential turning point in HYPE’s price trajectory.

Retail Momentum May Be the Decider for HYPE’s Future

HYPE’s story is no longer just about whales. It’s about the power shift. With the Hyperliquid price surge still unfolding, it’s becoming clear that retail traders may have more influence than ever before.

As more retail positions align with the HYPE bullish chart and overcome resistance, this collective force could carry HYPE to new levels. The question now isn’t whether the whales can win, but whether they can hold their ground against a crowd that’s already decided, this token is moving up.

Stay tuned, because the next move might not come from deep pockets, but from the hive mind of retail momentum.

The post Hyperliquid Price Surge: Are Retail Traders the Real Power Behind HYPE Unexpected Rally? appeared first on Coinfomania.