Hyperliquid Downside Liquidity Fragility: Long Resilient Alts, Short Fragile Alts

Hypothesis

Test whether asymmetric price response to traded volume predicts relative performance after ordinary market weakness. Use synchronized 4-HOUR bars on a fixed six-asset Hyperliquid universe. Long the asset with the lowest downside-versus-upside price-impact proxy and short the asset with the highest. This tests persistent selling fragility rather than return momentum, spread convergence or capitulation reversal. All six exact 4-HOUR catalog directories were confirmed locally; usable common history must be established before evaluation. Feature-design inspiration: https://github.com/stefan-jansen/machine-learning-for-trading/tree/main/08_financial_features. This is an original hypothesis, not a reproduction or a measured discovery.