Crypto whales’ massive accumulation of $12.53 million worth of HYPE near its ATH shows its long-term potential, but traders’ bearish bets hint at a potential correction ahead.
Amid the ongoing market recovery, Hyperliquid (HYPE) is garnering widespread attention from the crypto giants, including whales and institutions. The factors that attracted these key players seem to be: a shift in market sentiment and a massive 35% price jump over the past week.
However, on August 27, 2026, HYPE price showed a slight recovery of 0.50% over the past 24 hours and traded at $82.41. The asset’s trading volume jumped 7.52% to $1.07 billion during the same period.
Besides the price decline, whales and institutions appear to be accumulating HYPE tokens. Crypto transaction tracker Onchain Lens disclosed that a whale who previously added 33,000 HYPE tokens from Coinbase has now added another 46,800 HYPE tokens worth $3.65 million from Coinbase. So far in August, this whale has added a massive 80,600 HYPE tokens worth $5.53 million.
Furthermore, another mysterious whale withdrew a massive 79,800 HYPE tokens worth $6.50 million from the exchange after being inactive for two months, as reported by Lookonchain.
The report on X also added that this whale’s wallet has withdrawn a massive 1.36 million HYPE tokens worth $95.60 million at an average price of $70. This mass accumulation hints that the current HYPE price is an ideal buying opportunity. In fact, it also suggests that HYPE has strong long-term potential.
Adding to the whale’s accumulation, another crypto whale added 28,980 HYPE tokens worth $2.38 million from FalconX.
Besides this, Wall Street investors have also shown interest in HYPE, as recorded by the on-chain platform SoSoValue. Data show that over the past two days, U.S. spot HYPE ETFs have witnessed notable inflows of $5.74 million and $7.51 million, respectively, on August 25 and 26, 2026.
Now, the question is what intraday traders are doing in the current market. Are they also betting on long positions?
The derivatives data tells a different story. According to CoinGlass, HYPE’s long/short ratio reads 0.9771, below 1, indicated a bearish sentiment among traders.
Meanwhile, the exchange liquidation map shows that $79.29 on the lower side and $84.19 on the upper side are the two major levels where traders are over-leveraged. Data further shows that traders at these levels have built long-leveraged positions worth $10.14 million and short-leveraged positions worth $30.02 million.
When combining whale activities with derivative datasets, it appears that HYPE has strong upside potential, while its short-term bias seems to be bearish.
According to TradingView’s daily chart, the HYPE price is facing strong resistance at its ATH of $83.27. In fact, the asset has continued to trade near this level for five straight days.
Based on the current price action, if the HYPE price breaks out of this resistance level, it could see a strong upside rally. However, if the asset falls below the $73.75 level, it could see a strong correction in the coming days.
At press time, the technical indicator Average Directional Index (ADX) read 42.28, above the key threshold of 25, indicating strong trend strength.
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