The price of the Hyperliquid (HYPE) token has surged over 100% in the past three months, climbing from a year-to-date low of $20 to $41. This rally is expected to gain further momentum with the imminent launch of the Bitwise HYPE ETF, which will soon be available to American investors. The ETF, which carries a 0.67% expense ratio, is anticipated to attract those hesitant to manage crypto keys or store assets on exchanges. Technical indicators suggest continued bullish momentum for HYPE. The token has surpassed the 50% Fibonacci Retracement level and formed a golden cross pattern, indicating accelerating short-term momentum. Additionally, HYPE has maintained a sequence of higher highs and lows, staying above the Ichimoku cloud indicator. A breakthrough above the $42.96 resistance level could invalidate a bearish double-top pattern, potentially driving the price towards last year’s high of $60. Hyperliquid's dominance in the perpetual futures market is also contributing to its growth. The network's open interest reached $7.85 billion, surpassing competitors like Aster and edgeX. Rising futures open interest and trading volume, which hit $211 million in the last 24 hours, underscore increasing demand for the token.