Lu Yao Claims Hyperliquid Strength Amid Cryptocurrency Bear Market

Chinese trader Lu Yao has stated that only Hyperliquid (HYPE) is showing strength despite the bear market in the cryptocurrency sector. He mentioned, "The overall cryptocurrency market is still in a bear market, and only HYPE is in a bullish phase," citing HYPE's record high as evidence. Lu emphasized that price speculation should be viewed as a matter of probability rather than a definitive conclusion. He diagnosed that despite the recent market rebound, the cryptocurrency market remains in a bear phase and suggested that it may have entered the latter part of the bear market. He referred to this phase as a 'monkey market,' indicating a period of significant price fluctuations. Additionally, he mentioned the possibility of continued upward momentum and the potential for Bitcoin (BTC) to approach $90,000 to $100,000, but added that it is difficult to conclude that the bear market cycle has ended. HYPE recently rebounded from $51, surpassing $83 at one point to reach an all-time high, and is currently trading at $81. Hyperliquid is a decentralized trading ecosystem that supports on-chain derivatives trading, with HYPE tokens traded as a major asset. Lu Yao's remarks reflect the judgment that some assets may exhibit different trends even within a bear market, rather than focusing solely on specific token price forecasts.

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