Despite the McLaren F1 partnership, Hedera (HBAR) price fell to $0.10.
Hedera (HBAR) strengthened its downward trend.
The token slipped to the $0.10 mark amid continued selling pressure and broader cryptocurrency market weakness.
This decline comes despite a partnership with the McLaren F1 team.
Hedera prices fell against other cryptocurrencies on Friday, hitting a daily low of $0.10.
HBAR has recovered slightly to around $0.115 after seeing a sharp decline on January 19th.
However, the selling pressure in the risk assets market has driven the bulls into the jungle, a short straw that masks deeper decay.
It's a reflective look at the altcoin ecosystem as Bitcoin struggles below $90,000.
With gains amid macroeconomic and geopolitical headwinds, BTC hit a low of $87,700 and is currently hovering around $89,230.
Despite the McLaren partnership, HBAR dips
Struggling altcoins, including HBAR, have a low drag risk. Hedera seems to have failed to maintain a positive momentum despite the feeling of a great partnership with McLaren.
Hedera Group announced a multi-year partnership with McLaren Racing on Thursday, revealing that the crypto company is now the official partner of the McLaren F1 team.
Several crypto companies, including Coinbase, Crypto.com and Bybit, have signed major sports sponsorship deals in the past. Hedera is looking to expand with this latest move.
Charles Adkins, CEO of HBAR, Inc. said, “Working with one of the world's most popular sports brands is a huge step forward for the Hadera ecosystem. Web3 gives us the opportunity to show what it can be like when it's built on a network people trust.”
HBAR technical view
The HBAR chart shows a clear bearish structure, with prices below key moving averages.
The altcoin has been in a long slump since it hit a high of $0.35 in January last year.
As HBAR breached the $0.12 support earlier this month and is now near $0.10, technical indicators point to further downside risk as oscillators such as the RSI are trending lower. Hedera's token is below all major averages.
If buyers fail to recover $0.11, losses could accelerate to October lows of $0.0976.
Hedera's market capitalization stands at roughly $4.65 billion, reflecting a 65% decline from its July 2025 peak, reducing the total value locked at $61.5 million and compounding last week's 16% drop in stablecoin supply.
HBAR futures traders increased short positions, expecting continued pressure amid lackluster ETF earnings.
While it may bring the $0.16 mark into view, analysts note that current metrics favor a consolidation or deep correction unless Bitcoin stabilizes.
BTC is currently under pressure as investors pile into gold.
