Bitwise: Sells 117,917 HYPE for $7.05M

Bitwise sold another 117,917 HYPE tokens for $7.05 million, extending its recent distribution streak tracked by on-chain monitors.

Price action on the 4h chart shows HYPE trading at $56.24 inside the Bollinger Bands, with the EMA50 at $59.35 and EMA200 at $62.57 acting as layered resistance. The MACD death cross at -0.49 keeps the structure bearish while RSI at 32.94 leaves room for further downside before any bounce to the lower band support near $55.88.