HYPE token extended its remarkable 2026 rally before pulling back sharply on June 4-5, as institutional product launches collided with a dramatic exit by BitMEX co-founder Arthur Hayes. The token hit an all-time high near $75.40-$75.50 on June 3-4, then retreated to $63.86 by June 5, representing a steep 13.73% decline over 24 hours, though the token remains up 3.78% over the past 7 days and approximately 167% year to date.