Cryptocurrencies Price Prediction: Hyperliquid, Bitcoin & Solana – European Wrap 25 August
|Hyperliquid Price Forecast: HYPE offers recovery signals backed by steady open interest
Hyperliquid (HYPE) is printing a green 4-hour candle, trading above $45.00 on Monday amid growing risk-off sentiment in the broader cryptocurrency market. Retail demand for HYPE appears steady, backed by steady futures Open Interest (OI) and a robust technical structure.
Traders will be on the lookout for a daily close above $45.00, which could signal readiness for the run-up toward record highs marginally below $50.00. Hyperliquid shows signs of a sustainable recovery toward its record high near the $50.00 mark, driven by rising retail demand.
Bitcoin Price Forecast: BTC slides as whale sell-off outweighs Powell’s dovish remarks
Bitcoin (BTC) price extends its correction, trading below $111,600 at the start of the week on Monday after being rejected from its previously broken trendline last week. BTC corrects by nearly 10% from its record high despite dovish remarks from Federal Reserve (Fed) Chair Jerome Powell at the Jackson Hole Symposium on Friday. Large whale and institutional sell-off, coupled with over $1 billion in outflows from spot Bitcoin Exchange Traded Funds (ETFs), have added pressure on the market.
Bitcoin price declined more than 3% last week, reaching a low of $110,680 on Sunday. This price correction comes despite the dovish remarks from Fed Chair Jerome Powell at Jackson Hole on Friday, who said that the central bank will adopt a new policy framework of flexible inflation targeting and eliminate 'makeup' strategy for inflation. "Framework calls for a balanced approach when the central bank's goals are in tension," Powell added.
Solana Price Forecast: SOL extends rally as open interest hits record high of over $13 billion
Solana (SOL) price trades in green above $207 at the time of writing on Monday, supported by a strong rally last week. The bullish outlook is further supported by the record-high Open Interest (OI) on SOL, reaching over $13 billion. Additionally, the Bullish company's Initial Public Offering (IPO) last week added optimism that could set the stage for SOL to make a fresh push toward its all-time high.
CoinGlass’ data show that the futures’ OI in Solana at exchanges reached a new all-time high of $13.08 billion on Monday. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current Solana price rally.
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