Hyperliquid faces a 7.88M HYPE token unlock after a 37% weekly rally to $64

Hyperliquid’s HYPE is approaching the $64 area after a 37% weekly surge and a near-2% gain this week, while the RSI is already overbought. The market is watching a 7.88 million HYPE unlock scheduled for this week, framed as nearly $500 million of potential selling pressure. Spot activity and reported whale buying, alongside $1.16 billion in buybacks, are being cited as support that could offset supply.