炒作价格预测：零售交易者能否克服鲸鱼对代币的投注？

加密世界对权力斗争并不陌生，但是现在炒作正在发生的事情就像战场。

In the dynamic world of crypto, power struggles are never far away, but what’s unfolding with HYPE feels more like a battlefield. On one side, two high-stakes whales are going head-to-head over where the token will move next. Meanwhile, thousands of retail traders are banding together, and they might just be tipping the balance.

在加密的充满活力的世界中，权力斗争永远不会遥不可及，但是炒作的发展更像是战场。一方面，两只高风险鲸鱼正对准代币将在下一步移动。同时，成千上万的零售商交易者正在团结在一起，他们可能只是在平衡平衡。

After a month of bullish explosiveness, with HYPE climbing over 13%, the rally seems to have stalled slightly. In the last 24 hours, we've seen a pause in the uptrend, with the HYPE price today up just 0.25%. Some analysts call it a breather, others say it’s the calm before another storm. And with the Hyperliquid price surge still fresh in the market’s memory, all eyes are on what happens next.

经过一个月的看涨爆炸性，大肆宣传超过13％，集会似乎略有停滞。在过去的24小时内，我们看到上升趋势停顿，今天的炒作价格仅上涨0.25％。一些分析师称其为喘息，其他分析师说这是另一场暴风雨前的平静。而且，随着市场的价格涨幅仍然在市场的记忆中新鲜，所有人都关注接下来会发生的事情。

But it isn’t just whales making noise. Retail derivative traders have entered the chat, pushing market volume higher and positioning themselves for a continued upward trajectory. The question now is, can this crowd movement overpower the whales betting against HYPE?

但这不仅仅是鲸鱼发出噪音。零售衍生品交易员已经进入聊天，将市场量提高了，并将自己定位为持续的向上轨迹。现在的问题是，这种人群运动能否克服鲸鱼对炒作的投注？

Who Are the Whales Battling Behind the Scenes?

鲸鱼在幕后战斗是谁？

鲸鱼在幕后战斗是谁？

The Hyperliquid Whale Tracker reveals two massive positions going in opposite directions. One whale has taken a strong long position on HYPE, betting on another leg upward. This bullish whale entered with $15.54 million for $11.93. As the market now stands at $18, they are sitting on a 34.59% gain, although they haven’t reached their goal yet.

超流动的鲸鱼跟踪器揭示了两个方向相反的大规模位置。一只鲸在炒作上占据了很长的位置，向上押注另一只腿。这只看涨的鲸鱼以11.93美元的价格进入了155.4万美元。由于市场现在的价格为18美元，尽管他们还没有达到目标，但他们的收益率为34.59％。

On the flip side, another whale has gone short with a $12.80 million bet opened at $14.209. As of now, this trader is down more than 22%. If HYPE breaks through further, the short whale could face liquidation, with their cutoff at $25.95.

另一方面，另一只鲸鱼跌了14.209美元，押注1280万美元。截至目前，该交易者下降了22％以上。如果炒作进一步破裂，则短鲸可能面临清算，其截止值为25.95美元。

While the profit and loss stats are interesting, they don’t tell the whole story. Crypto markets are famous for flipping in a blink, and traders are watching closely for any signals. A shift in the broader market or a sudden news event could quickly change the tide, especially with such large positions at play.

尽管损益统计数据很有趣，但他们并没有讲述整个故事。加密市场以眨眼而闻名，交易员正在密切关注任何信号。更广泛的市场或突然的新闻事件的转变可能会迅速改变潮流，尤其是在如此庞大的职位上发挥作用。

Are Retail Traders the Real Power Behind HYPE?

零售交易者是炒作背后的真正力量吗？

零售交易者是炒作背后的真正力量吗？

Retail activity is skyrocketing. According to Coinglass, most retail derivative traders are taking long positions, aligning with the HYPE bullish chart that’s been developing over the past week. This signals growing confidence among smaller investors, and they could be the key force behind the current Hyperliquid price surge.Chart 1- HYPE Volume-Weighted Funding Rate, published on Coinglass, April 23, 2025.

零售活动飙升。根据Coinglass的说法，大多数零售衍生品交易员都在占据很长的位置，与过去一周中正在发展的炒作看涨图表保持一致。这表明较小的投资者对信心的信心不断增强，并且可能是当前超流利价格上涨的关键力量。节目1-炒作数量加权率，于2025年4月23日发布于Coinglass上。

Market volume has jumped by 5.73% in the last 24 hours, reaching $274.91 million. Along with that, the Volume-Weighted Funding Rate has remained positive since April 20, denoting that long positions are dominant, and traders expect further gains in HYPE.

在过去的24小时内，市场量增长了5.73％，达到2.7491亿美元。随之而来的是，自4月20日以来，体积加权的筹资率一直保持阳性，表示长期头寸是主导的，交易者预计炒作会进一步提高。

When retail and volume collide with optimism, the market has a way of responding, and right now, it’s looking bullish.

当零售和数量与乐观相撞时，市场有一种反应方式，现在看上去看好。

What Does the Data Say About HYPE’s Direction?

数据对炒作方向有何评论？

数据对炒作方向有何评论？

The funding rate, currently at 0.0099%, tells us that long traders are paying a premium to short traders, indicating a willingness to hold onto bullish bets. This supports the ongoing upward momentum and could widen the gap between spot and futures prices if bullish sentiment keeps rising.Chart 2- HYPE Funding Rate History Chart, published on Coinglass, April 23, 2025.

目前为0.0099％的资金率告诉我们，长交易者正在向短交易者支付溢价，这表明愿意保持看涨的赌注。这支持了持续的势头，如果看涨情绪不断上升，则可能会扩大现货和期货价格之间的差距。

Liquidation data backs this up. Over the past 12 hours, short positions saw $37,230 in losses compared to just $5,530 for long traders. That imbalance shows how the pressure is mounting against bears, and how strongly the bulls are positioned.

清算数据将其备份。在过去的12个小时中，短职位的损失为37,230美元，而长交易者仅为5,530美元。这种不平衡表明压力是如何对熊施加的，以及公牛的位置有多强。

Another key signal is Open Interest, which has returned to its February highs. This shows that overall trader engagement is surging, with most of it stemming from long positions aiming for further highs.

另一个关键信号是开放兴趣，该兴趣已恢复到2月的高点。这表明总体交易者参与正在激增，其中大部分源于较长的位置，旨在提高高位。

Can HYPE Break Through Price Resistance?

炒作可以突破价格抵抗力吗？

炒作可以突破价格抵抗力吗？

The next big test for HYPE is whether it can push past its current level and challenge the next key HYPE price resistance. If retail traders stay locked in and volume continues to climb, that break could come sooner than many expect.

炒作的下一个重大测试是它是否可以超过其当前水平并挑战下一个关键的炒作价格阻力。如果零售交易者保持锁定并继续攀升，那么休息时间可能比许多人预期的要早。

However, despite the possibilities, we cannot ignore the potential for volatility, especially with the clash between a confident, bullish crowd and a whale betting against them. But if the crowd continues to rally and maintain the momentum, the bearish whale may face a forced liquidation, a potential turning point in HYPE’s price trajectory.

但是，尽管有可能，我们不能忽略波动的潜力，尤其是在自信，看涨的人群和针对他们的鲸鱼下注之间的冲突。但是，如果人群继续集结并保持势头，看跌鲸可能会面临强迫清算，这是炒作价格轨迹的潜在转折点。

With retail traders showing their strength and optimism, and volume surging alongside it, the potential for further gains in the Hyperliquid token seems high. As more retail positions align with the HYPE bullish chart and overcome resistance, this collective

随着零售交易者表现出自己的力量和乐观，并与之息息相关，在超流动令牌中进一步获得的潜力似乎很高。随着越来越多的零售位置与炒作看涨图表相吻合并克服抵抗力，这个集体