Hyperliquid’s HYPE token dropped 7.2% to $69 on Thursday, marking the deepest single‑day decline among major cryptocurrencies.
Market Overview
Digital asset prices slipped across the board as the Federal Reserve kept its benchmark rate unchanged at 3.5%‑3.75%, aligning with analyst expectations. The central bank’s updated outlook signaled higher inflation forecasts and a slower pace of future rate cuts, prompting investors to shy away from risk‑on positions.
Coin‑Specific Movements
Despite the broad pullback, HYPE retained a weekly gain of roughly 28%, keeping it at the top of the performance chart for the period. Tron (TRX) emerged as the only major crypto to post a positive move, edging up 0.9% amid the market downturn.
Implications for Investors
Higher‑than‑expected inflation projections and the possibility of additional rate hikes have tightened financial conditions, steering capital away from speculative blockchain assets. Market participants are now weighing the Fed’s stance against potential upside for crypto portfolios.