Hyperliquid (HYPE) is navigating a highly volatile cryptocurrency market, trading above $46 at the time of writing on Monday. The native Decentralized Exchange (DEX) token tested support at $39.78 last Thursday, marking a 33% correction from its record high of $59.43, reached on September 18.
Bitcoin (BTC) trades at around $112,200 at the time of writing on Monday after a 2.66% correction last week. The weakening institutional demand also adds to the bearish pressure as spot Exchange Traded Funds (ETFs) recorded over $900 million in outflows.
Ripple (XRP) declines for two consecutive days as weak sentiment prevails in the broader cryptocurrency market. The cross-border token is testing support at $2.70 at the time of writing on Friday, amid concerns that the downtrend may continue ahead of the weekend.