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CoinMarketCap's Alice Liu said Bitcoin is unlikely to bottom again, noting that Hyperliquid surged

2026-09-15 00:44:54

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Bitcoin has difficulty maintaining a price above US$80,000, but analysts believe it is unlikely to backtest its low at the beginning of the year.

After a recent rebound, Bitcoin encountered resistance as it tried to maintain a price above US$80,000. However, Alice Liu, head of research at CoinMarketCap, said that cryptocurrencies, which are market leaders, are unlikely to return to the lower price range seen earlier this year.

Bitcoin holds on to annual lows gains

Liu reviewed the low of approximately $59,000 that Bitcoin hit in June, reflecting its 53% decline from a record high of $126,100 in October. She pointed out that the decline could mark the bottom of the cycle, which means the possibility of a sharp correction is decreasing.

Bitcoin once reached US$81,600 in early September, and has rebounded by about 28% since mid-August. This price rise prompted the CoinMarketCap Crypto Fear and Greed Index, which monitors collective market sentiment in cryptocurrencies, to re-enter the "greedy" territory, ending the cautious wait-and-see posture that had prevailed in the market in previous months.

CoinMarketCap is a widely used cryptocurrency data aggregation platform known for publishing indicators such as market market capitalization, trading volume and sentiment index of major digital assets. Although Bitcoin's recovery has dominated the headlines, Liu has shifted his focus to emerging trends outside the core cryptocurrency market. She pointed to growing activity in the areas of tokenized real-world assets (RWA) and perpetual contracts.

RWA perpetual contracts and decentralized exchanges intensify competition

Liu focused on the relevant developments of Hyperliquid, a decentralized derivatives trading platform. She emphasized that online activity and token prices can change independently, and noted the increased market attention to real-world asset (RWA) perpetual contracts-derivatives backed by tokenized stocks, ETFs, and indices.

It was reported that Hyperliquid initially accounted for the majority of trading shares of these RWA perpetual contracts. However, after Binance of By Volume, the world's largest cryptocurrency exchange, launched its own RWA perpetual contract, a large amount of activity shifted to Binance, giving it a current market share of approximately 50%. Despite this, Liu said that among these products, Hyperliquid remains the leader among decentralized exchanges (DEXs).

Noun explanation: Hyperliquid

Hyperliquid is a decentralized derivatives trading platform that allows users to trade perpetual contracts on-chain, with a focus on real-world asset (RWA) integration and high on-chain liquidity.

Market Share Comparison (RWA Perpetual Contract):

Binance： 50%
Hyperliquid: Leader in DEX

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