HYPE price falls 10% as Arthur Hayes sells $800k worth Hyperliquid tokens to buy a Ferrari

Hyperliquid price fell sharply after reports surfaced that Arthur Hayes sold $800,000 worth of tokens to buy a Ferrari. Despite the bearish news, the token remains in a bullish market structure, supported by multiple technical confluences.

The sudden 10% decline on the day in Hyperliquid’s (HYPE) price came amid speculation around Arthur Hayes selling $800k worth of his position. While the news created a wave of bearish sentiment, technical analysis suggests the correction coincided with a rejection from the Fibonacci extension target near $60.00 Circle introduced native USDC on Hyperliquid’s HyperEVM and invested directly in the network, a move that strengthens the project’s long-term outlook. Price has since found support, confirming a bullish retest of the trend line.

Hyperliquid price key technical points:

• 10% Decline on the day: Triggered by Arthur Hayes’ reported $800k token sale.
• Fibonacci Rejection: Price rejected at the $60.00 extension level.
• Support Retest: Value area high and $48.00 resistance remain key.

The rejection near $60 was not random; it aligned with the Fibonacci extension target, a region that often triggers profit-taking. The sell-off was amplified by bearish headlines, but the broader market structure remains intact.

Price has since rotated back into a bullish support zone, confirming a retest of trendline support. This level has already produced multiple higher lows, reinforcing the bullish bias. From a structural perspective, the pullback represents another higher low rather than a breakdown.

The key levels to monitor in the coming days are the value area high and the high-time-frame resistance at $49.00. Reclaiming these levels on a closing basis would confirm that bulls remain in control and set up continuation toward $60.00 and beyond.