Hyperliquid (HYPE) approaches $40 at press time on Wednesday, extending the US-Iran ceasefire-linked recovery. Retail demand for HYPE is rising, leading to elevated futures Open Interest amid improved broader market sentiment. Technically, HYPE breaks out of a falling channel pattern on the 4-hour chart, suggesting a near-term bullish outlook.

Bitcoin (BTC) is approaching the upper boundary of the horizontal channel that has been limiting the price since early February, trading near $71,800 on Wednesday, and a breakout of this zone would suggest an upside move. Easing geopolitical tensions between the US and Iran following the announcement of a two-week ceasefire supports a bullish narrative for the Crypto King, hinting at a potential…