Hyperliquid (HYPE) is currently one of the best-performing cryptocurrencies in the market. According to CoinGecko data, HYPE’s price has rallied nearly 22% in the last 24 hours, 39.1% in the last week, 59.5% in the 14-day charts, 48.6% over previous month, and 65.4% since February 2025. Let’s discuss what’s behind Hyperliquid’s (HYPE) rally, and if the asset will hit a new peak soon.
Will Hyperliquid Continue Its Rally To A New Peak?
Hyperliquid’s (HYPE) latest upswing comes after the project announced the new HIP-4 proposal. The HIP-4 proposal introduces Outcomes, marking the project’s entry into the predictions market. The proposal will also add outcome-based trading to the platform. However, Outcomes is still being developed. According to the Hyperliquid team, “Outcomes are a work in progress and currently only being tested on testnet. Canonical markets based on objective settlement sources will be deployed once technical development is complete.“
Hyperliquid (HYPE) hit an all-time high of $59.30 in September 2025. The asset is currently down by 37% from its 2025 peak. Given the current market bearishness, there is a chance that investors will book profits and exit their positions. Such a move could lead to a price correction for Hyperliquid (HYPE). Cryptocurrencies have taken a back seat over the last few months and market participants take a risk-off approach. With Bitcoin (BTC) struggling to breach the $80,000 price level, the larger crypto market may not see a bullish outbreak anytime soon. Hyperliquid (HYPE) may also fall victim to the larger market trend.
Also Read: Volatility Sends Bitcoin Price Crashing: Analyst Sees $62K or $200K
CoinCodex analysts also do not expect Hyperliquid’s (HYPE) rally to sustain. The platform anticipates the asset to face a correction over the coming days, falling to $24.94 on Feb. 12, 2026. Dipping to $24.94 from current price levels will entail a correction of about 33.24%.
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