Will Hyperliquid Fall to $65 Before 2027? Dexsport Gives It a 28% Chance

• Polymarket prices NO shares at 73% while Yes trades at 27%.
• This market has recorded $68.6K in trading volume, with $60.8K traded in the past 24 hours.
• Liquidity currently stands at $25.7K, representing the available capital across the market.
• The market will resolve on December 1, 2026

HYPE has fallen alongside stocks and crypto. ICE’s proposed US venue still needs approvals, and its fee arrangements could determine how much the token benefits

HYPE traded at $77.35 as of November 6, down roughly 17% from $93.50 a week earlier. A move to $65 would take another $12.35 off the price, a decline of about 16%. That leaves the target within the range of a move comparable to the one HYPE has already made this week. 

Dexsport’s Hyperliquid market currently displays a 65% chance of HYPE reaching $65 before 2027. The Yes buy quote is at 69 cents and the specific event contract shows about $182,400 in trading volume across its price targets. 

Dexsport lists a January 1, 2027 close at 05:00 UTC and allows early resolution when a target is reached; the wording points to a price touch during the period, which means the market could close earlier. 

Stocks and crypto fell together

So are the odds correctly priced? Global markets have entered into bear territory; the S&P 500 closed 4.4% lower on Thursday, November 5, while the Nasdaq Composite fell 5.5%. The Philadelphia Semiconductor Index sank 12.2%. 

Reuters also reported that Qualcomm’s smartphone chip sales fell short of expectations as investors also weighed whether US policy could slow the buildout of AI infrastructure. The MSCI All-World index lost 3.1%, and Europe’s STOXX 600 slipped 0.38%. 

The selling carried into Friday’s Asian session, with Japan’s Nikkei closing nearly 6% lower, and South Korea’s Kospi dropping more than 8% early in the session, triggering a trading halt. 

Crypto hasn’t been spared by the bloodbath. Bitcoin is trading at around $75,610, down about 6% over 24 hours, Either is down 8.2% while HYPE is also down about 7.4% over the same period. 

What buybacks can do in a selloff

Falling prices can keep Hyperliquid’s markets busy as traders close positions or hedge. Some of the fees from those trades go to the Assistance Fund, which buys HYPE onchain. Hyperliquid treats the tokens in the fund as burned. The purchases can absorb some of the selling, depending on how much HYPE the fund buys. 

The amount reaching the fund depends on which markets generate the fees. Under HIP-3, which lets third parties list perpetual contracts on Hyperliquid, deployers can keep up to half the fees their markets generate. Eligible markets that use growth mode can cut total trading fees by at least 90%. 

Where the ICE deal fits

The same question about fees applies to ICE’s proposed US venue. Trade[XYZ] already lists perpetuals on Hyperliquid that Ripple Prime uses as references for institutional swaps. The ICE proposal would open a separate route for eligible US retail traders to access perpetuals tied to assets such as stocks and commodities. 

HYPE was near $90 after ICE announced the deal on October 29. ICE would run the regulated venue and set up its clearing structure, with Hyperliquid providing the technology. The venture would operate separately from ICE’s institutional futures business, and retail customers would access it through participating futures brokers once the required approvals are in place.

ICE is also investing in Trade[XYZ], although the announcement left the launch date and fee split open. Regulatory approval could change how traders price the deal before year-end. Any buybacks funded by the new venue would come once it opens, attracts trades and sends some of the fees to the Assistance Fund.