HYPE Falls to $67 as Hayes Exits; Mumtaz Flags Long-Term Buy

Hyperliquid’s HYPE token has retreated to around $67 after BitMEX co-founder Arthur Hayes sold his entire position on June 4. The move ended a record run that peaked at $75.50 the prior day and followed a roughly 180% year-to-date surge driven by $100 million-plus in spot HYPE ETF inflows and institutional rotation out of Bitcoin and Ether products. Despite the pullback, weekly perpetual volumes cleared $40 billion and daily spot trading occasionally topped Ethereum’s, though analysts highlight stretched valuations near 25x fee revenue and a large June token unlock. Commentators including Mert Mumtaz view the dip as short-term noise and maintain a multi-year bullish stance ahead of expected regulatory clarity.