In the past 24 hours, $HYPE generated only $500,000 in revenue – the lowest level in a long time. Hyperliquid has repurchased approximately 10,794 HYPE at an average price of 35.90 USDT, equivalent to nearly $390,000. This indicates that market liquidity is clearly weakening, a sign of a deep bear market phase.

However, for traditional investors, HYPE is still considered an attractive asset due to its buyback mechanism funded by actual revenue. The upcoming launch of the prediction market could help push the price above 40 USDT in the short term.
Nevertheless, in the context of a bear market, most price increases are mainly technical rebounds. A prudent strategy now is to be cautious, prioritize risk management, and wait for opportunities at higher price levels rather than expecting to hit new highs.