Exchange-traded funds tied to major cryptocurrencies saw renewed pressure on Feb. 18, with Bitcoin and Ethereum products recording net outflows as digital-asset prices drifted lower.

Hyperliquid (HYPE), the native token of the decentralized perpetuals exchange built on its own L1 chain, is trading around $31–$32 as of February 19, 2026, roughly 47% below its 2025 all-time high near $59. Despite the drawdown, sentiment across crypto circles has turned increasingly bullish following a bold forecast from BitMEX co-founder Arthur Hayes.

Learn more about crypto and blockchain technology.