HYPE Rebounds 108% From Yearly Low, On-Chain Data Shows Divergence From Price Movement

BlockBeats News, April 15th, according to Cointelegraph, Hyperliquid's native token HYPE retested $45 on Tuesday, marking its highest level since October 31, 2025. The rebound from the annual low of $21 on January 21 has now accumulated a 108% increase.

However, market signals are diverging:

Weak spot buying: Spot Cumulative Volume Delta (CVD) has dropped to -$41.48 million, diverging from the price increase, indicating that the rise is mainly driven by passive demand rather than aggressive spot buying support.

Cautious futures sentiment: Futures CVD has remained stable around -$0.748 billion for the past month, even as Open Interest (OI) has risen to $1.38 billion. However, the softness in futures CVD suggests that traders lack the confidence to chase the uptrend.

In addition, BitMEX co-founder Arthur Hayes has predicted that if Hyperliquid continues to capture market share from centralized exchanges, HYPE could rise by 200% to $150 by August this year.

Currently, HYPE is trading at $43.5, down 27% from its all-time high of $59. Analysts warn that if the bullish momentum fades, the market may be more susceptible to sharp liquidation-driven fluctuations.