HYPE Wedge BreakdownHyperliquid / TetherKUCOIN:HYPEUSDTdoublechonkHYPEUSDT wedge breakdown. pure technicals here been consolidating in a wedge since mid June, classic indecision pattern. broke down from it and now retesting the underside around $66-68 we don't usually trade wedge setups but the measured move lines up with a real unfilled gap in price action from the move up in May. that confluence puts the target around $45 these are levels we're watching, not a prediction macro backdrop: Arthur Hayes called $150 by August in March. four days later he dumped his entire position at $69, citing oil prices and a wave of AI IPOs. some reports say he's since rebuilt part of it. worth noting when the loudest bull on the trade taps out mid-thesis either way unlocks continue through 2027. ~9.92M HYPE monthly, roughly 1% of supply. July 6 released about $630M. still only ~27% of total supply circulating OI sitting around $2.56B. plenty of leverage still on the table both directions. down about 16% from the June 16 ATH the counterweight: Hyperliquid routes ~97% of daily fees into buybacks. that's a real structural bid working against any move down, unlock or no unlock our read: wedge breakdown, real imbalance below, and the guy with the loudest target already took profit. watching $45 play out. buyback mechanism is the genuine headwind to that thesis though, wanted to flag both sides