HYPE has surged past its all-time highs, hitting $65 yesterday in a move that caught the attention of the broader crypto market, especially while most other assets are struggling under selling pressure. The breakout is significant on its own, but data from Hyperliquid has revealed a detail about who is accumulating the asset that adds a strong layer of conviction to the price action—something the chart alone can’t show.
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Garrett Jin—the whale known for placing a $735 million short position on Bitcoin just before the October 10 market crash, a call that became one of the most talked-about and accurate large-scale trades of this cycle—has been buying HYPE over the past four days. He’s accumulated 145,050 tokens at an estimated cost of $9.05 million. More importantly, Jin has set up a TWAP order—a time-weighted average price execution that automatically keeps buying at regular intervals—to acquire an additional 39,940 HYPE, worth about $2.44 million.
Garrett Jin’s holdings on-chain | Source: Hypurrscan.io
TWAP orders aren’t reactive trades. They’re deliberate, systematic accumulation strategies used by traders who want to build a position over time without moving the market against themselves. Garrett Jin isn’t just reacting to HYPE’s all-time high breakout. He’s been building toward it—and has automated the next phase of that build to continue regardless of short-term price swings. The trader who called October’s crash is signaling something specific about where he thinks HYPE is headed next.
A $9M HYPE Bet Alongside $77M in Active Positions
The Hyperliquid data shows the full portfolio context that makes the HYPE accumulation more significant than just a standalone transaction. Garrett Jin isn’t a trader who’s shifted all his focus to HYPE. He’s actively managing a multi-asset book at the same time—and the HYPE position is being built alongside his existing commitments, not instead of them.
On the long side, Jin holds 504.4 Bitcoin, worth about $38.9 million—a substantial directional bet on Bitcoin’s recovery that shows continued confidence in the broader crypto market, despite the recent weakness that has tested most traders. The size of this position puts him in a category of trader whose Bitcoin view carries real financial weight, not just speculative noise.
Garrett Jin’s perps positions on Hyperliquid | Source: Hypurrscan.io
On the short side, Jin holds 57,460 ZEC, worth about $38 million—a position currently down roughly $2.11 million. This is a deliberate bet against Zcash that he’s held onto through that unrealized loss, rather than cutting it at the first sign of trouble. His willingness to hold a losing short reflects the same disciplined conviction that defines his track record.
The overall picture shows a trader running about $77 million in active directional positions across three assets at the same time—while systematically adding to HYPE through an automated accumulation order. This isn’t a casual allocation or a momentum chase. It’s a calculated addition to an already large and actively managed book from the same trader who spotted October’s crash before it happened.
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HYPE Enters Price Discovery After Explosive Breakout
HYPE has entered a powerful price discovery phase after breaking decisively above its previous all-time highs near the $50 level. The daily chart shows a clear acceleration in momentum over the past two weeks, with buyers taking back control after months of consolidation and gradually building higher lows since March. The breakout above the previous resistance zone triggered an explosive expansion move that pushed HYPE toward the $65 region, confirming one of the strongestHere are the current trend structures visible across the crypto market. HYPE is consolidating above its previous all-time high.
Source: HYPEUSDT chart on TradingView
What makes this move especially notable is the combination of strong price action and rising trading volume. Recent candles show growing participation as HYPE moved sharply higher, indicating that the rally isn’t just happening on low liquidity. Volume surged during the breakout, pointing to strong market interest and steady buying pressure, rather than a temporary short squeeze.
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From a technical standpoint, HYPE remains well above its 50-day and 100-day moving averages, both of which are now trending upward and acting as dynamic support levels. The 200-day moving average is far below the current price, near the mid-$30 range, highlighting how extended the current bullish trend has become. As long as HYPE stays above the former breakout zone around $56–$58, the bulls remain in control. That said, after such a sharp move higher, volatility and profit-taking risk are likely to increase significantly in the short term.
Featured image from ChatGPT, chart from TradingView.com
Frequently Asked Questions
Here is a list of FAQs about HYPEs rally above 60 and the whale accumulation written in a natural conversational tone
BeginnerLevel Questions
1 What is HYPE and why is it going up
HYPE is a cryptocurrency token Its rallying because a large investor is buying a lot of it and other traders are following that momentum The price has climbed above 60
2 What does whale mean in crypto
A whale is a person or organization that holds a massive amount of a cryptocurrencyenough that their buying or selling can move the market price
3 Is it safe to buy HYPE right now just because a whale is buying
Not necessarily Whales can sell just as quickly as they buy This is called pump and dump risk Its better to do your own research than to follow a whale blindly
4 How do people know a whale is buying
They use blockchain explorers to look at wallets and see large transactions moving into a single address This information is public
5 What does accumulating mean
It means the whale is quietly buying small or large amounts of HYPE over time building up their position instead of buying it all at once
IntermediateLevel Questions
6 How does a whales accumulation affect the price technically
It creates a support floor The whales buy orders absorb sell pressure preventing the price from dropping As the whale buys more supply shrinks which can push the price higher
7 Is this rally organic or just manipulation
Its a mix The whales buying is a catalyst but other traders seeing the rally join in If the price is rising solely on one whales activity its fragile If theres strong volume from many buyers its more organic
8 What are the risks of buying during a whaledriven rally
Dump risk The whale can sell all at once crashing the price
Liquidity trap You might not be able to sell quickly if the whale exits
False breakout The price might spike above 60 briefly and then fall back down