HYPE Reloaded: Is the Dip a New Entry Point?

👇1-14) March has historically been a turning point for asset prices, and last year was no exception. While consensus remained bullish, we turned cautious in March 2024, correctly anticipating the start of an eight-month consolidation phase. Although we raised similar concerns in December, Bitcoin’s renewed attempt to break above $108k briefly signaled upside potential—until the structure collapsed amid Trump’s escalation of tariff rhetoric. The meme coin frenzy unraveled following the $TRUMP coin controversy, widely viewed as an insider-driven exit strategy targeting retail investors.

👇2-14) While the Fed has primarily sidestepped direct responsibility for the 10% decline in equities and Bitcoin’s 25% correction, its policy stance has undoubtedly been a key driver. Notably, as Bitcoin entered a prolonged consolidation in March, platforms like Pump. fun surged, fueling the meme coin craze. Although the chance is low, this week’s Fed meeting could prove pivotal.

👇3-14) Still, in the meantime, crypto markets are shifting focus to a new emerging trend: whale tracking on Hyperliquid, where traders are increasingly attempting to trigger liquidations on significant leveraged positions and volumes are gravitating to DEXs. The Hyperliquid token, HYPE, is actively traded across multiple exchanges—check live prices here.

Monthly Derivatives Volume by various DEX ($ billions)

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