Hyperliquid, weekend market's solo surge to new highs..."A unique rally when others start to rebound"

▲ Hyperliquid (HYPE)/AI Generated Image

Hyperliquid (HYPE) broke its all-time high amid the cryptocurrency market rebound. While Bitcoin (BTC), Ethereum (ETH), and XRP showed recovery over the weekend, Hyperliquid surpassed $63, showing the strongest upward trend in the market.

CryptoPotato reported on May 24 (local time) that Bitcoin rebounded in a single day amid positive progress on the US-Iran peace negotiation front, after losing approximately $8,000 in just over a week. Most altcoins also followed Bitcoin's trend, with the total cryptocurrency market capitalization recovering over $80 billion from the previous day's low.

Bitcoin had been under strong selling pressure for about the past 10 days. A combination of ETF outflows, investor exits, and heightened geopolitical tensions pushed it below $78,000 last weekend and then down to $76,000 a few days later. Attempts to rebound on Wednesday and Thursday were blocked at $78,000, and on Friday and Saturday morning, selling pressure took the lead, dragging Bitcoin to just over $74,000. This was its lowest price point in May.

Subsequently, Bitcoin immediately rebounded after US President Donald Trump announced that the US and Iran had made significant progress toward a potential permanent peace agreement. Bitcoin rose to just over $77,200 on the day, after which its upward momentum was limited, and it subsequently traded near $77,000. Bitcoin's market capitalization recovered to $1.54 trillion, and its dominance over altcoins remained above 58% even after a brief dip the previous day.

Hyperliquid briefly plummeted to $55 the day before but has maintained a unique performance trend in the market over the past few weeks. On this day, its upward momentum strengthened further, recording a new all-time high above $63. As Bitcoin's rebound revived risk appetite across the market, Hyperliquid showed the most noticeable trend among major assets.

Ethereum defended the $2,000 mark and then rose above $2,100 with a 4.5% daily gain. BNB recovered to $660, and XRP reclaimed the $1.35 resistance level. Solana (SOL) rose to $87, and ZEC returned to $645. Upward trends were also observed in CC, XLM, SUI, AVAX, TAO, and others.

WLD, NEAR, MORPHO, ONDO, and QNT showed a stronger rebound, recording double-digit gains. The total cryptocurrency market capitalization increased by over $80 billion from the previous day's low, recovering to $2.65 trillion. The weekend market appeared to be moving away from a bearish trend, driven by Bitcoin's rebound near $77,000 and Hyperliquid's new all-time high.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*