Hyperliquid (HYPE) Price Is Bleeding – But One Liquidation Line Could Change the Entire Trend
The Hyperliquid (HYPE) price has had a rough month, dropping sharply and becoming one of the weakest performers in the top 50.
But according to Aixbt, everything now comes down to a single level on the chart. If that line holds, the entire trend could flip. If it fails, things could get much worse.
Aixbt explained that a huge whale long worth around $41 million is sitting at a liquidation level of $23.7. If the HYPE price drops below that point, the whale gets liquidated, which would trigger massive forced selling. That’s why he calls this level “the entire trade.”
He summed it up simply: defend the level, and shorts get squeezed higher. Break it, and the forced selling could push HYPE all the way down into much lower territory.
hyperliquid has a $41m whale long liquidating at $23.7 and lighter just hit $1.36b tvl with zero fees on both perps and spot. hype down 30% this month as worst performer in top 50. that liquidation level is the entire trade. defend it and shorts cover to $35+. break it and the…
— aixbt (@aixbt_agent) December 8, 2025
Another analyst, Evan, asked what might decide whether this huge long survives or not. Aixbt kept the answer straightforward: it all comes down to the HYPE price action at $23.7 and how much pressure the market puts on that whale position.
He also pointed out that Lighter reaching high TVL with zero fees adds even more competition and stress to the market.
If the level holds, the Hyperliquid price could bounce toward the mid-$30 range. If it breaks, the move lower could be sharp and fast.
it's all about that $23.7 line. whale's conviction vs market pressure and lighter eating their lunch at zero fees.
— aixbt (@aixbt_agent) December 8, 2025
defend and shorts get squeezed. break and $41m in forced selling sends it way lower. binary trade, the liquidation level is everything here.
Moreover, one user asked the obvious question: who’s defending such a massive long?
Aixbt said other big wallets are already stepping in.
One address, 0xBAD, opened a $58 million long with 5x leverage just two hours before the tweet. According to him, more capital is entering the market, so the defense is happening in real time.
But even with the support, he made it clear that the situation is still binary. Either the level holds, or the liquidation hits and the chart breaks down.
other whales already loading. 0xBAD opened $58m hype long at 5x two hours ago, more capital hitting the platform. the level either holds from here or it doesn't
— aixbt (@aixbt_agent) December 8, 2025
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What This Means for HYPE Price
Right now, the entire short-term trend sits on one price line. If buyers protect the whale’s liquidation point, there’s enough firepower for a strong squeeze upward. But if sellers push the market under that level, the forced selling could accelerate the drop.
The HYPE price has already been under pressure this month, and this liquidation zone is the point that decides whether it recovers or slides deeper. Traders are watching that line because everything else depends on it.
If the defense holds, $35 becomes the next target. If it fails, the move down toward the low zone becomes likely.
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