This is a market on whether Hyperliquid or Bitcoin will be the first to reach a new all time high between July 3, 2025, 1:30 PM ET, and December 31, 2025, 11:59 PM ET. This market will resolve to "Hyperliquid" if Hyperliquid reaches a new all time high first within the market timeframe. This market will resolve to "Bitcoin" if Bitcoin reaches a new all time high first within the market timeframe. If neither Hyperliquid nor Bitcoin reaches a new all time high within the market timeframe, this market will resolve 50-50. A new Hyperliquid or Bitcoin all-time high will be considered valid if any Binance 1-minute candle for HYPEUSDT or BTC/USDT, within this market timeframe, has a “High” price higher than any previous 1-minute candle’s “High” on Binance. The resolution source for this market is Binance, specifically the HYPE/USDT and BTC/USDT “High” prices with “1m” and “Candles” selected on the top bar, respectively available at https://www.binance.com/en/futures/HYPEUSDT and https://www.binance.com/en/trade/BTC_USDT. Please note that the outcome of this market depends solely on the price data from the Binance HYPEUSDT and BTC/USDT trading pairs. Prices from other exchanges, different trading pairs, or spot markets will not be considered for the resolution of this market.