Bitcoin Tops $79K, Hyperliquid Launches BTC Price Prediction
Bitcoin (BTC) price topped $79k on Sunday as crypto investors continued to increase their positions amid the recent launch of Hyperliquid’s prediction market.
Trading data from a crypto exchange shows BTC hovering around $79.3k on Sunday, with volume climbing, reflecting optimism amid geopolitical uncertainties.
The world’s largest digital asset, with a $1.6 trillion market capitalisation, just extended its monthly gain to 18.5%, according to data from Coinglass.
BTC trading volume is about 9% higher on the day to $18.6 billion, as institutional investors open fresh positions amid easing exchange-traded fund (ETF) outflows.
Based on the price movement, BTC IS slightly outpacing a broadly flat crypto market, primarily driven by a return of institutional buying via spot ETFs.
One of the major drivers of the price surge is a significant $629.8 million net inflow into U.S. spot Bitcoin ETFs on May 1, with BlackRock’s IBIT alone capturing $284.4 million.
This reversed a brief outflow streak and signals renewed institutional accumulation, providing direct buy-side pressure. The recent price was supported by large, regulated funds adding Bitcoin exposure, which helps stabilise prices and counters retail selling pressure.
Hyperliquid launched its first prediction market on mainnet via the HIP-4 upgrade, according to the latest report. The feature introduces outcome-based, fully collateralised contracts—starting with Bitcoin price direction—that eliminate leverage and liquidation risk, allowing users to hedge or speculate on specific events.
Traditional prediction markets typically offer a probability curve, allowing participants to buy Yes or No. But on Hyperliquid, this event has evolved into a fully-fledged trading instrument: complete with K-lines, order book, depth chart, drawing tools, and technical indicators.
The full suite of trading features is fully integrated, meaning prediction markets are no longer just information markets—they’re becoming genuine trading markets.
This is bullish for Bitcoin’s ecosystem utility, as it expands its financial instrument suite beyond spot and perpetual trading. It represents a step toward more sophisticated, event-driven markets built directly on crypto-native infrastructure. PYUSD – PayPal Stablecoin Gains Momentum on Restructuring
