Hyperliquid (HYPE) faced significant selling pressure on July 23-24, 2026, as large institutional unstaking activity and broader market weakness pushed the token below the critical $60 support level. The token traded at $57.37 as of July 24, down 3.45% in 24 hours and 7.1% over the past week, according to the latest market data. The decline marks a sharp reversal from the token's June record of $76.70, representing a 25% pullback from its recent peak.