Hyperliquid's HYPE tops $57 after short liquidations, nearing $59 ATH

Hyperliquid's HYPE moved above $57 on Thursday, putting it within about 2% of its roughly $59 all-time high set in September 2025. The move followed a short squeeze that erased about $21 million in HYPE futures positions in 12 hours and pushed 24-hour liquidations to $30.6 million on the short side versus $1.08 million in longs. HYPE was up nearly 17% over 24 hours, more than 46% over seven days, and over 111% year over year at the time of writing.