Hyperliquid (HYPE) is trading near $93 on October 6, putting the token less than 8% away from the psychological $100 level and roughly 5% below its recent all-time high near $98.
The latest advance follows a recovery from the $88 to $90 region, with HYPE reaching approximately $93.75 on October 5. Its technical momentum remains constructive, while a new $10.15 million token burn and the addition of Hyperliquid perpetual pricing to Bloomberg Terminal have strengthened the fundamental narrative.
However, HYPE still needs to clear resistance between $93.75 and $98 before $100 becomes a confirmed breakout target. The token’s future unlock schedule also remains a major supply risk despite continued buybacks and burns.
Hyperliquid Holds Above $92 as $100 Comes Into View
HYPE recovered sharply after spending several sessions consolidating between approximately $88 and $90.
On October 5, the token traded around $93.07, reaching an intraday high near $93.75. That placed HYPE close to its September record around $97.98.
The immediate technical challenge, then, is not $100 itself, as buyers first need to break the $93.75 to $95 area, followed by the previous all-time high around $98. A sustained move through those levels would leave $100 as the next psychological target.
On the downside, $92 is the first level to watch. Below that, $90 to $91 represents the previous breakout area, while $87.50 provides another technical pivot.
| Hyperliquid Level | Role |
| $93.75-$95 | Immediate resistance |
| $97.98-$98 | All-time high resistance |
| $100 | Psychological breakout target |
| $105-$110 | Higher target after confirmed $100 breakout |
| $92-$93 | Immediate support |
| $90-$91 | Previous resistance turned support |
| $87.50-$88 | Major short-term support |
| $84-85 | Deeper support |
Table 1. Hyperliquid Key Support and Resistance Levels
HYPE Is Only About 5% Below Its Record High
HYPE traded around $93 on October 5, approximately 5% below its $98 record reached on September 23. Bitcoin, by comparison, remained roughly 32% below its own peak, while Ethereum was approximately 45% below its record.
That does not guarantee HYPE will continue outperforming. However, the smaller distance between its current price and record high means relatively little additional buying pressure is required for another price-discovery attempt.
A breakout above $98 would also remove recent historical resistance. At that point, $100 would become both a psychological target and the first major round-number resistance above the previous high.
$95 Liquidation Cluster Could Increase Short-Term Volatility
Recent liquidation data identified a concentrated cluster around $95, with additional liquidity extending toward $100, according to CoinGlass data.
If HYPE breaks through $95, short positions concentrated there could be forced to close, potentially adding market buying and helping accelerate a move toward $98 and $100.
The same derivatives activity increases downside risk if momentum reverses. Highly leveraged positioning can amplify moves in both directions, particularly when price is close to a heavily watched resistance level.
Hyperliquid’s own derivatives ecosystem remains substantial, with September open interest across the platform surpassing $18 billion.
Hyperliquid Burns $10.15 Million Worth of HYPE
The latest rally also coincided with another significant reduction in HYPE supply.
Hyperliquid used approximately $10.15 million to buy and burn 112,580 HYPE tokens after its AQAv2 framework generated roughly $14.5 million in USDC interest for the Assistance Fund.
The purchased HYPE was permanently removed from circulation.
This brought cumulative HYPE burns to about 49.25 million tokens, valued at roughly $4.45 billion at the reported market price.
The mechanism links protocol activity to token demand because funds buy HYPE before the tokens are removed.
Higher activity can therefore generate additional buyback demand while simultaneously reducing supply.
Still, burns alone do not guarantee price appreciation. HYPE’s unlock schedule means new tokens are also entering circulation, creating a competing supply source.
Token Unlocks Remain the Biggest Risk to the $100 Breakout
HYPE’s low circulating supply has helped amplify its price performance, but it also creates an important longer-term risk.
Approximately 250.6 million HYPE were circulating out of a total supply near 951 million, meaning only around 27% of the total supply was available in the market.
A large portion of HYPE therefore remains outside circulating supply.
A full monthly team unlock could represent around $920 million worth of HYPE at a $93 token price. The core team had reportedly claimed only 3.2 million of 405 million unlocked tokens at the time of the report.
The timing between unlocks, claims and actual market sales is important. An unlock does not automatically mean all corresponding tokens will be sold immediately.
However, future supply remains a key factor that could limit HYPE’s upside if incoming demand fails to keep pace.
Bloomberg Terminal Adds Hyperliquid Perpetual Prices
Hyperliquid also gained additional visibility among professional market participants this week.
Bloomberg Terminal now provides 24-hour streaming prices for selected Hyperliquid perpetual contracts covering crypto assets as well as markets linked to equities, commodities, foreign exchange and indexes.
The integration is market data only. Bloomberg users can monitor Hyperliquid pricing through the Terminal, but they cannot directly execute Hyperliquid trades through the system.
The development nevertheless puts Hyperliquid market data alongside the financial information used by professional trading desks and institutions.
That expands visibility rather than directly creating demand for HYPE, so it should not be interpreted as institutional adoption of the token itself.
HYPE ETFs Return to Inflows in October
Hyperliquid exchange-traded fund (ETF) flows have turned positive again in October after recording net outflows during September.
The latest monthly data from SoSoValue shows $5.63 million in net inflows for October 2026, bringing cumulative HYPE ETF net inflows to approximately $343.08 million.
That follows $6.86 million in net outflows during September, when monthly traded value reached about $592.05 million.
October’s return to inflows is still small compared with the much stronger demand seen earlier in the year.
June recorded approximately $161.05 million in net inflows, while August added another $66.33 million.
The latest data therefore suggests that ETF demand has improved from September, but not yet returned to the levels seen during HYPE’s stronger accumulation periods.
Total net assets have also climbed to approximately $514.64 million in October, up from $482.95 million in September.
That increase reflects both fund flows and changes in HYPE’s market value, so it should not be interpreted as new investor capital alone.
At current prices, continued ETF inflows would add another source of demand as HYPE approaches its $98 all-time high. A return to larger outflows, however, could add pressure if the token fails to break through $95 to $98.
Can Hyperliquid Reach $100 in October?
At roughly $93, HYPE needs about a 7% increase to reach $100. That makes $100 significantly closer than it was earlier this year, but several resistance levels remain in the way.
The first is approximately $93.75 to $95. Above that sits the all-time high around $97.98.
A daily close above $98 would provide the clearest confirmation that HYPE has entered price discovery again.
The combination of continued token burns, strong derivatives activity and greater market visibility provides potential support for that scenario.
However, the token’s relatively low circulating supply and large future unlock schedule mean the same supply structure that can amplify rallies could also increase volatility when new tokens enter circulation.
| Scenario | What Would Support It | Levels to Watch |
| Bullish Case | HYPE holds $92, clears $95 and breaks the $98 record | $100, then $105-$110 |
| Base Case | HYPE remains above $88-$90 but fails to clear its record | $88-$98 consolidation |
| Bearish Case | HYPE loses $88 as momentum weakens or supply pressure increases | $84-$85, then lower support |
Table 2. Hyperliquid Bullish, Base and Bearish Scenarios
Bottom Line
Hyperliquid is trading near $93, leaving HYPE within striking distance of both its $98 all-time high and the $100 psychological level.
The immediate resistance sits between $93.75 and $95. Clearing that zone would expose the previous record near $98, while a confirmed breakout above the all-time high would make $100 the next major target.
Support sits around $92, followed by $90 to $91 and the stronger $87.50 to $88 region.
The recent $10.15 million token burn, positive money flows, Bloomberg Terminal integration, and ETF inflows could strengthen the current setup, but HYPE’s large future token supply remains an important counterweight.
For now, the path toward $100 remains open, but the stronger confirmation comes from breaking $98 rather than simply approaching the triple-digit target.
This article is for informational purposes only and does not constitute financial advice. Crypto price predictions are based on analyst estimates and are not guarantees of future performance. Do your own research before making any investment decisions.
Frequently Asked Questions
Need a refresher? Here are the questions most readers ask about Hyperliquid’s current price setup and its push toward $100.
What Is Hyperliquid’s Main Resistance Right Now?
HYPE faces immediate resistance between approximately $93.75 and $95. The more important level is its recent all-time high around $97.98. Breaking that record would put $100 directly in focus.
What Is HYPE’s Main Support?
Immediate support sits around $92 to $93, followed by the previous breakout region around $90 to $91. The $87.50 to $88 area provides stronger support if the current rally loses momentum.
How Far Is HYPE From $100?
At approximately $93, HYPE needs to gain roughly 7% to reach $100. It must first overcome resistance near $95 and its previous all-time high around $98.
Why Did Hyperliquid Burn 112,580 HYPE?
Hyperliquid used about $10.15 million from its Assistance Fund to buy and burn 112,580 HYPE. The burn permanently removes those tokens from supply and followed approximately $14.5 million in USDC interest generated through the AQAv2 framework.
Could Hyperliquid Reach $100 in October?
Yes, $100 is technically within reach because HYPE is already trading near $93. However, buyers first need to clear $95 and establish a confirmed breakout above the approximately $98 all-time high. Token unlocks and leveraged positioning remain the main risks to that scenario.
