One of the interesting things about $HYPE this cycle is that it has outperformed Bitcoin for long stretches, thanks to Hyperliquid's own revenue, buyback mechanics, and ecosystem growth. - ATH just touched $74.18 - Market cap is around $15.8B - Daily volume is nearly $1.9B - TVL is over $6B Clearly not the profile of a token moving purely because BTC moved. What likely happened is: - Bitcoin's strength created a risk-on environment. - Capital rotated into strong-performing alts. - HYPE had its own catalysts (revenue, buybacks, exchange-like economics, growing adoption). - The combination pushed it to new highs. $HYPE benefited from Bitcoin's bullish environment, but the magnitude of the move suggests project-specific demand rather than simple BTC correlation. Truly one of the few generating enough revenue that people are starting to value it on its own merits. 👀 #CFTCOpensBitcoinPerps #HYPEBreaksATHAgain #ICEBacksOKXOilPerps