Whales Quietly Accumulate HYPE as Retail Shorts Spike

Despite the negative funding rates, Hyperliquid’s long/short ratio shows that longs still outnumber shorts 64:36, but the ratio has dropped from over 2.1 to below 2.0 in 48 hours. This indicates some long exit, but not enough to tilt the bias yet.

Smart Money Flow Still Net Positive

The Chaikin Money Flow (CMF), a TradingView indicator that tracks volume-weighted inflows versus outflows, has remained above the zero line for some time now. That signals buying strength. CMF doesn’t just follow price; it tracks capital flow. A positive CMF during sideways consolidation indicates that Smart Money is still accumulating while the price remains stable.

The current structure would be invalidated only if CMF breaks down below zero alongside the price breaking below $37.5. Until then, dips are being bought hard.

CMF helps highlight where real money is flowing. Unlike RSI or MACD, which measure momentum, CMF indicates whether traders are moving capital into or out of the token. And right now, it still looks positive.

HYPE’s Rising Wedge Still Intact

HYPE continues to trade within a rising wedge in the hourly timeframe, with higher lows since June 27 and resistance forming near $41. If the price breaks above the wedge and holds above $42 with volume, shorts could face a violent squeeze.

However, if the price falls below $38.50, $37.50, the more recent support lines, a move towards $31.50 can become possible. Yet, $36.86 remains a key support line as it aligns with the smart buying level. Hitting those key support zones would flip the structure, and whales may start rotating out. For now, the wedge remains intact, and whales are still buying, not selling.