Bitcoin hits 2024 low as capital shifts to Hyperliquid-linked HYPE ETFs

Bitcoin has declined to its lowest price level since 2024, marking a significant downturn for the leading cryptocurrency. This depreciation coincides with a notable reallocation of capital by investors, who are increasingly turning their attention toward emerging investment products linked to the Hyperliquid platform.

According to a report by CNBC published on 6 June 2026, the market shift is characterised by a growing appetite for what is being termed HYPE ETFs. These funds represent a new class of cryptocurrency investment products that derive their exposure from the Hyperliquid ecosystem, distinguishing them from traditional spot or futures-based crypto offerings.

The movement suggests a divergence in investor sentiment, with capital flowing away from the flagship digital asset and into specialised derivatives or platform-linked instruments. While the specific mechanics and regulatory classification of these HYPE ETFs are not detailed in the source material, the trend indicates a maturing, albeit volatile, interest in niche crypto infrastructure on Wall Street.

The report notes that this shift is occurring against the backdrop of Bitcoin’s price contraction. However, the exact magnitude of the decline and the precise valuation of the coin at this lowest point are not quantified in the available data. The focus remains on the structural change in where institutional and retail capital is being deployed within the broader digital asset landscape.

As the market adjusts to these new dynamics, the rise of HYPE ETFs highlights the ongoing innovation in crypto investment vehicles. Investors appear to be seeking exposure to specific blockchain platforms rather than the broader market, a trend that could redefine how capital flows through the cryptocurrency sector in the coming months.