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Hyperliquid (HYPE) dropped around 16% in 24 hours, falling from a recent all-time high near $76 to the $60 area, wiping out over $3B in market capitalization. BitMEX co-founder Arthur Hayes reportedly exited his entire position (~$18M), adding to short-term market caution and sentiment pressure. The $60–$64 zone is now a key support level. Holding this range could allow a rebound toward $70–$80, while a breakdown below $60 may open a deeper move toward $55–$53. Broader market weakness, with Bitcoin around $62K and Ethereum near $1.7K, continues to amplify downside pressure across altcoins amid elevated liquidation risk.