Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia’s (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury. The company announced that it has entered into a securities purchase agreement for a $50 million private placement in public equity offering (PIPE) with accredited investors. The company plans to use the funds to establish its Hyperliquid treasury.
Bitcoin price declined sharply, falling from the June 10 open of $110,274 to the June 11 close of $105,671, creating a Fair Value Gap (FVG) at approximately $108,064. This bearish FVG marks a key resistance zone, meaning that once Bitcoin collects liquidity, it is likely to continue its correction. On Monday, BTC retested and faced a slight pullback from this FGV zone, closing the day up by 1.14%. However, it declined by 2.10% the next day and retested its 50-day Exponential Moving Average (EMA) around $103,070. At the time of writing on Wednesday, it hovers at around $105,000.
Ethereum (ETH) is down 2% on Wednesday amid a simultaneous growth in accumulation and short positioning across ETH futures. The divergence follows investors leveraging a delta-neutral play to scoop yield. Ethereum whales expanded their holdings in the past week, scooping about 800K ETH daily, with the balance of 1K-10K wallets surpassing 14.3 million ETH, per Glassnode data.
