Hyperliquid (HYPE) Gains in Market Sell-Off, Stellar (XLM) Holds Firm, Bitcoin (BTC) Falls Below $70,000

CoinDesk reported that Hyperliquid (HYPE) is holding up despite a broad market sell-off. HYPE has gained about 7%, and the advance may extend sooner than expected. Trading volume has risen, fueling expectations of a continued rebound. The report attributes the move mainly to HYPE being oversold before the previous downturn. It also says the sharp decline was less about altcoins and DeFi and more about risk-off behavior triggered by selling in the AI sector. HYPE trades at $73.99 after rebounding from an earlier low of $69.83. The intraday low came close to the 200-day exponential moving average, shown as the black line on the chart, which coincides with the $68 level. The RSI, a momentum gauge, is rebounding from the 40 area, suggesting bearish pressure may be temporary if speculative selling is the main driver. Hyperliquid lost upward momentum by the end of September, and the early-November rally formed a lower high. The first resistance is the orange moving average near $78. A break above that level could lay the groundwork for a price recovery. Stellar (XLM) followed a similar path, rebounding quickly near $0.15. Light trading volume makes it hard to build accelerated upside momentum or strengthen bullish potential. The broader market remains weak and lacks sustained momentum. XLM trades at $0.1497 after falling to $0.1411. The rebound at this level is not coincidental because it lines up with the late-May low. All moving averages continue to diverge, a sign that the asset lacks the momentum to drive a rise in volatility. Volatility is more likely to increase significantly when moving averages converge. On fundamentals, mainnet validators will vote on the Bell upgrade, Protocol 30, on November 23. The Bell update is a significant fundamental development for XLM but has little bearing on short-term price performance. The asset has shown signs of being oversold, so the correction is not surprising. Momentum-wise, the RSI is near 35, close to a local low. Bitcoin (BTC) fell below $70,000. The report says BTC faced nearly $1 billion in liquidation pressure, with almost all the impact hitting Bitcoin and further amplifying existing bearish sentiment. The price has already broken the $70,000 level and may fall further. CoinGlass data show $1.65 billion in positions were liquidated across the market over the past 24 hours, including $918.6 million from Bitcoin. BTC trades at $69,552 after earlier dropping to $67,500. The decline so far today is about 2.6%. The drop may deter additional investors, but it remains consistent with the overall trend, and BTC has since rebounded, recovering part of its earlier losses. If the $67,500 low breaks, the next target area could be around $65,000, where Bitcoin spent most of July and August. Source and author: U.Today, Arman Shirinyan.