Hedera (HBAR) slid with the broader crypto market on Friday, hitting intraday lows near $0.10 before a modest rebound to roughly $0.115. The downturn follows a sharp drop on January 19 and mirrors weakness across altcoins as Bitcoin struggles below the $90,000 mark. Market context - Bitcoin briefly touched lows of $87,700 and was trading around $89,230 as risk appetite waned. Profit-taking amid macroeconomic and geopolitical headwinds — and a shift of some capital into gold — has intensified selling across risk assets. - The wider sell-off has left short-lived rallies looking fragile, with altcoins broadly failing to sustain gains. McLaren tie-in fails to spark sustained upside Hedera announced a multi-year partnership with McLaren Racing on Thursday, naming the project an Official Partner of the McLaren F1 Team — a high-profile sports tie-up similar to deals previously struck by Coinbase, Crypto.com and Bybit. Hedera said the move is aimed at expanding adoption and bringing fan-focused Web3 experiences to life. “Working with one of the world’s most recognized sports brands is a big step for the Hedera ecosystem. It gives us a chance to show what Web3 can look like when it’s built on a network people can trust, and when it’s tied to experiences fans actually want,” said Charles Adkins, CEO of HBAR, Inc. Despite the announcement, HBAR has so far failed to capture lasting upside, illustrating how investor focus remains firmly on macro drivers and Bitcoin’s direction. Technical and on-chain picture - HBAR’s chart shows a pronounced bearish structure: price sits below major moving averages and has been trending downward since peaking near $0.35 in January of last year. - The token breached $0.12 support earlier this month and is now hovering around $0.10, with momentum indicators like the RSI tilting lower. - Key levels: reclaiming $0.11 would be a short-term positive; failure to do so could open the path toward October’s lows near $0.0976. Analysts say a bounce could put $0.16 back on the radar, but current indicators favor consolidation or further downside unless Bitcoin stabilizes. Market health and futures flows - Hedera’s market capitalization sits at roughly $4.65 billion, about 65% below its July 2025 peak. - Total value locked (TVL) on the network is down to $61.5 million, and stablecoin supply has shrunk by roughly 16% over the past week. - Futures desks report an increase in short positions on HBAR as traders position for further pressure, particularly in the absence of inflows tied to spot Bitcoin ETFs and while macro uncertainty persists. Outlook HBAR faces an uphill battle: the McLaren partnership boosts Hedera’s visibility and long-term narrative, but near-term price action remains tied to market-wide risk sentiment and Bitcoin’s trajectory. If BTC steadies and risk appetite returns, HBAR could see a corrective bounce; if pressure continues, deeper consolidation or another leg down is likely. Read more AI-generated news on: undefined/news

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