Hyperliquid (HYPE) price continues to coil, struggling to find direction as it edges higher on Thursday after two consecutive days of losses. Institutional demand, a key driver for altcoins in recent times, eases for HYPE with minimal inflows following a $108 million surge last week. Easing retail demand doubles down on HYPE as Open Interest declines 4% in 24 hours amid fluctuating funding rates.
Institutional and retail demand at ease
Hyperliquid consolidates with a mild sideways contraction, facing headwinds after a record high of around $76.93 in mid-June. The consolidation aligns with the easing of inflows into HYPE-focused Exchange-Traded Funds (ETFs).
Data shows that, apart from the $108 million in inflows on June 25, HYPE ETFs largely recorded daily inflows of less than $10 million. In addition, the $2.85 million in inflows on Wednesday marks a positive start to the month.
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