Galaxy Digital: Balance Sheet Suffers

Galaxy Digital CEO Mike Novogratz revealed the firm's balance sheet endured losses from the broader crypto market crash, though investments in Hyperliquid—tied to the HYPE token—helped mitigate some damage, highlighting resilience in decentralized finance amid ongoing market pressures.

Zooming into the HYPE 4h chart, price action clings to $39.8 while grinding against a bearish backdrop, with the EMA50 at $41.4 acting as immediate overhead resistance and the EMA200 at $40.62 reinforcing that longer-term barrier—traders eye a potential breakdown if momentum doesn't flip. The MACD screams bearish with a death cross at -0.34, signaling sustained downside pressure, yet RSI at 36.09 hangs neutral, suggesting room for a bounce before exhaustion. Volatility squeezes inside Bollinger Bands, testing the lower support at $39.55 as a critical hold; breach that, and we cascade toward deeper retracements, but confluence with upper resistance at $43.26 hints at short-term exhaustion plays for savvy entries in this Bitcoin-correlated swing.