HYPE Price Prediction as Hyperliquid Strategies Seeks Approval For US-Regulated Futures Trading

Hyperliquid (HYPE) price was down 7.54% today, November 6, to trade at $76 at the time of writing. The dip mirrors the downtrend in the broader crypto market as all the top ten biggest cryptos by market edge lower, with Bitcoin (BTC) and Ethereum (ETH) dropping to $75,000 and $2,200, respectively.

Despite the weak price outlook, the fundamentals around HYPE are improving after Hyperliquid Strategies revealed that it was seeking regulatory approval to bring futures trading to US customers.

Hyperliquid Strategies Files For US Expansion

While releasing its quarterly results for the period ending September 30, 2026, Hyperliquid Strategies revealed that it had submitted an application to become a futures commission merchant (FCM).

If the approval is granted, Hyperliquid Strategies will offer regulated perpetual futures trading to US-based customers.

“Setting up an FCM is how we intend to help bring markets deployed on Hyperliquid onshore,” said CEO David Schamis.

The filing disclosure comes barely three months after President Trump revealed that the CFTC was working to bring Hyperliquid to the US, triggering a HYPE price rally in August.

CoinGape also reported earlier that the NYSE parent company, ICE, is planning to launch perpetual futures trading on Hyperliquid, marking a major boost in institutional adoption.

HYPE ETF Outflows Surge Amid Bearish Crypto Market Sentiment

Data from SoSoValue shows that there were outflows of $3.02 million from spot HYPE ETFs. This marks the highest single-day outflows that the products have seen since October 26.

The Bitwise Hyperliquid ETF (BHYP) accounted for $2.19 million of these outflows, while the Grayscale ETF saw modest outflows of $829,000. These outflows pushed HYPE price lower.

HYPE ETFs now have total net assets of $381 million, which is equivalent to 2.04% of the total Hyperliquid market cap.

However, HYPE was not the only ETF to record outflows on November 5. SoSoValue shows that all crypto ETFs that trade in the US, apart from Hedera (HBAR), recorded outflows following a massive AI selloff.

Derivatives Market Outlook as HYPE Price Crash Triggers Record Liquidations

Data from CoinGlass shows that Hyperliquid recorded $21.75 million in long liquidations on November 5. This marks the highest long liquidations seen by HYPE since August 22.

Long liquidations have a bearish effect on HYPE price. This is because when longs are liquidated, they are forced to sell to close their positions.

These liquidations have also caused a 3.8% decline in open interest to $3.54 billion at the time of writing.

Hyperliquid’s open interest is now down by $410 million from $3.95 billion on October 31. The funding rate also remains positive, to suggest that long buyers are paying short sellers to keep their positions open.

HYPE Prediction as Price Falls Below Key EMAs

The recent downtrend has pushed HYPE price below the short-term and the medium-term EMAs. However, it still remains above the 200-day EMA of $69, which is now serving as support.

If HYPE drops below the 200-day EMA, it will suggest that the downtrend is gaining strength. The price could then move lower to the 161.8% Fib of $59.

The RSI supports this bearish future HYPE outlook. The indicator has dropped to 41, which shows that bears are now in control.

However, if the downtrend becomes exhausted after the recent surge in selling pressure, HYPE price may test the resistance at $79. Closing above this price could pave the way for another move towards the 61.8% Fib of $83.