a16z: Withdraws $30.57M HYPE from Hyperliquid

a16z moved 471500 HYPE tokens valued at $30.57 million from Hyperliquid into centralized exchanges including OKX, Bybit and Gate over the past day.

Price action on the 4h chart shows HYPE at $60.0 testing the lower Bollinger Band support at $60.46 while the RSI(14) sits at 25.76 in oversold territory and the MACD registers a bearish death cross at -1.06. The token remains pinned below both the EMA50 at $65.97 and EMA200 at $66.19, turning those levels into immediate resistance. Institutional desks now watch whether the oversold momentum produces a relief bounce toward the $60.46-$65 zone or whether further exchange inflows accelerate downside pressure.