Zinger Key Points
- Crypto trader noted every time Bitcoin touches $100,000, Hyperliquid has seen an uptrend from $12 to $25 while Ethereum weakens.
- Traders eye a breakout past $28.50 for new all-time highs in HYPE.
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Ethereum ETH/USD has exhibited a curious pattern of weakness over recent weeks, with Hyperliquid HYPE/USD being a notable beneficiary of this trend.
What Happened: Lookonchain and pseudonymous crypto trader kirbyongeo highlighted the divergence in the performance of Ethereum and Hyperliquid relative to Bitcoin’s BTC/USD repeated moves to $100,000.
The first time Bitcoin hit $100,000, Ethereum was at $3,900 and each subsequent time the crypto king hit the six-figure threshold, ETH’s price went lower: $3,800 → $3,700 → $3,400 → $3,200 → $2,800.
This reflects Ethereum consistently losing value relative to BTC, possibly due to capital rotation into Bitcoin or other assets.
On the other hand, Hyperliquid has been trending upward or maintaining its value.
The first time BTC hit $100,000, HYPE was at $12, and it then moved higher: $13 → $14.5 → $25 → briefly dipped to $23 → rebounded to $25.
This suggests growing demand or a stronger market position for HYPE, potentially gaining favor as a speculative or preferred asset.
Also Read: Forget Dogecoin And Shiba Inu – This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle
What's Next: Crypto trader Nebraskangooner noted that Hyperliquid is in a rising channel, but it may not break to new all-time highs immediately.
Sentiment appears overheated, which could be a red flag.
However, trading volume has been high, indicating strong interest.
The trader believes bulls need to defend $22.33 to maintain momentum and a move above $28.50 could trigger new peaks.
Crypto trader eon explained that HYPE has likely only completed one leg up on the weekly chart, with two more expected before topping.
The second leg could push it to $50, followed by consolidation, before a final move to more than $100.
He predicts a daily close above $26.3 could push prices to new all-time highs smoothly.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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