Bitcoin (BTC), Ether (ETH), and XRP are all trading in the red after the cryptocurrency market recorded a bearish weekend. HYPE, the native token of the Hyperliquid DEX, is the worst performer among the top 20 cryptocurrencies by market cap. HYPE is down 7% in the last 24 hours and now trades at $27.7. It has retested the $27.4 support level and could experience a temporary rally in the near term. The bearish performance extends HYPE's losses for the third consecutive week since early February. The falling Open Interest (OI), rising short bets, and negative funding rates all contribute to HYPE's poor performance.