Hyperliquid’s HYPE token jumped 19.6% over 24 hours to trade near $70.44 on Aug. 20, after briefly pushing above $72. The rally accelerated after US President Donald Trump said at a White House event on Aug. 19 that Commodity Futures Trading Commission Chair Michael Selig was working to bring Hyperliquid into the US in a “fully compliant and legal fashion.”
The comments added detail to earlier reports that Hyperliquid was exploring a regulated route into the US market. Regulatory records show Hyperliquid Labs and Hyperliquid Strategic met the CFTC’s Innovation Task Force on July 15, one day after discussions with the SEC’s Crypto Task Force. An SEC memorandum covering the July 14 meeting said Hyperliquid representatives discussed a “clear, regulated pathway” that could allow Americans to access onchain markets deployed on Hyperliquid.
The regulatory push is especially important because Hyperliquid specializes in perpetual futures, a product that has faced tighter restrictions for US retail traders than in many offshore markets. The HYPE advance also came as Bitcoin moved toward $69,000 and Ether rose back above $2,000, while the US Treasury increased certain longer-dated bond buybacks and the SEC proposed a new framework for crypto offerings. Nearly $2 billion in crypto positions were liquidated during the market move, and Trump urged Congress to move forward with the stalled CLARITY Act.
On the daily chart, HYPE’s Average Directional Index climbed sharply to 22.60, while daily Fibonacci Bands placed the upper band near $82.95. A sustained daily move above $73.40 could open a path toward the $80 psychological level and then $83. On the 4-hour chart, HYPE traded above the 20-day, 50-day, 100-day and 200-day exponential moving averages, though the Relative Strength Index jumped to 83.94, leaving short-term momentum stretched and HYPE exposed to possible consolidation or a pullback.
