yep there is i have a norco drop and it has hydraulics and its older and like all the new freeride down hill bike mostly have hydraulics the dirt jump bikes still have cable
Its spelled Hydraulic Disc Brakes. Every single Santa Cruz bike, Yeti bike, Commecal, almost every single high end bike has them. However, the bikes with hydraulic disc brakes are $1000 and up.
nearly all mountain bikes these days have hydraulic brakes on them now. Here is one: http://www.performancebike.com/bikes/Product_10052_10551_1074301_-1_20000__21002 in the high range and here is one in the low range: http://www.performancebike.com/bikes/Product_10052_10551_1061231_-1_20005_20000_20500 and nearly all bikes in this price range are so equipped and most in the sub $300 range wont have them but some will.