FalconX: Deposits $8.01M HYPE to Coinbase

FalconX transferred 96.623K HYPE valued at $8.01M from its hot wallet straight to Coinbase. HYPE currently sits at $83.68 inside a bearish trend where EMA50 at $89.52 caps upside and EMA200 at $87.41 offers secondary resistance. Momentum shows RSI(14) at 27.11 in oversold territory while MACD registers a death cross at -1.56, pointing to continued downside pressure until price tests the lower Bollinger band support at $83.3. With price testing upper Bollinger resistance near $96.88 earlier, a healthy retracement to the 50-EMA support at $89.52 seems probable before further continuation. Institutional desks tracking HYPE price prediction now weigh this deposit against broader crypto market crash risks and AI industry impact on token flows.