Coinbase Prime

Hyperliquid’s HYPE token is under pressure after reported whale unstaking and exchange transfers followed a sharp pullback from its recent high. Technical traders are watching the $58 area, where a breakdown could open the door to a 14% decline and a possible retest of lower levels.

Bitcoin weakened over the past 24 hours as renewed U.S.-Iran hostilities pushed oil prices higher and traders reduced exposure to risk-sensitive assets. With June CPI due later today, markets are watching whether inflation data will ease or reinforce expectations for a July Federal Reserve rate increase.

U.S. government-linked wallets transferred about $288 million in seized bitcoin and ether to Coinbase Prime, with bitcoin routed through fresh intermediary wallets and ether sent directly. The transfers have drawn market scrutiny because they follow a March 2025 executive order tied to a Strategic Bitcoin Reserve, though the movements do not confirm a sale.

SpaceX moved tiny amounts of bitcoin between wallets tagged to the company for the first time in about six months. The transfers totaled less than $300 and did not send coins to an exchange, leaving its 18,712 BTC position intact.