HYPE falls 3.56% to $83.88 amid $330M OTC distribution pressure
- —HYPE dropped 3.56% to $83.88 with a market cap of $21.32 billion
- —24-hour volume of $622.13 million is 35.64% below the 30-day average
- —Price sits below SMA-7, SMA-15, SMA-30 and SMA-50 but above SMA-200 at $61.69
- —$330 million OTC distribution is a possible supply factor, not a confirmed cause
Why it matters: If OTC tokens reach the open market, selling pressure on HYPE could build; key levels are $85.46 on the upside and $83.40/$82.77 on the downside.
Source: DiarioBitcoin