Crypto Markets Find Support: Bitcoin, Ether Gain Modestly as HyperLiquid’s HYPE Jumps
After weeks of volatility, crypto markets steadied on Thursday, with Bitcoin and Ether posting modest gains and HyperLiquid’s token HYPE leading the day’s rally.
Bitcoin (BTC) edged up 1.6% to $109,983, while Ether (ETH) rose 1.1% to $3,880. Other tokens, including BNB and Solana (SOL), posted even stronger gains, signaling renewed market stability after recent turbulence.
The spotlight was on HYPE, which surged 12% to $39.13 following HyperLiquid Strategies’ announcement of plans to raise $1 billion to repurchase the token.
Derivatives data also reflected the calmer trading environment, with funding rates hovering near zero, contrasting with the heightened volatility of the past few weeks.
Thursday’s action suggests that the market is finding support levels, with investors cautiously stepping back in after recent swings.
