Hyperliquid (HYPE) Breakdown Alert: Are the Bears Lining Up for a Drop to $20?

With the solid 3.44% drop in the crypto market, the bears have reinforced their position. The majority of the assets are in the red zone, visiting their former support.  Bitcoin and Ethereum are in a downtrend, currently trading at around $107.4K and $3.7K. Among the altcoins, Hyperliquid (HYPE) followed suit