Short Squeeze

Hyperliquid’s HYPE token has surged sharply, leaving a persistent bearish trader facing more than $60 million in cumulative losses across multiple positions. The latest rally gained momentum after comments on a possible compliant US path for Hyperliquid, while technical traders are watching a bull flag breakout that points toward $100.

Ethereum has broken above the $1,800 resistance area, confirming a bullish W-shaped structure that chart watchers had been tracking on the daily chart. Rising trading volume, short liquidations, ETF inflows, and a renewed weekly buy signal are putting the $2,200 area in focus.

Solana is under renewed pressure after failing to clear the $78 resistance zone, with trading volume cooling and ETF-linked flows turning negative. Technical traders are watching $74 as the next major support, while a breakout above $78 could still open the door to a move toward $90.

Bitcoin climbed toward $62,000 as a wave of liquidations squeezed bearish traders and lifted major tokens across the market. Ether and Solana outperformed, while weaker U.S. jobs data helped ease pressure on risk assets.

Bitcoin fell 5% to $58,000 in early Thursday U.S. trading, its lowest level since 2024. Derivatives and order-book data now point to crowded short positioning and deeper buy interest below the market, raising the odds of a sharp squeeze.