Suddenly realized: in the past 24 hours, $SOL has surged another six percentage points, and in seven days it’s risen by more than a quarter—but the contract market is as calm as if it never went up. The funding rate is down in the dust, and all eight consecutive readings are positive; longs simply don’t dare to take on leverage. This isn’t a sign the trend has topped—clearly there’s a large pile of sidelined positions stacked above that still haven’t been picked up. The share of active buy orders is nearly 60%, the long-to-short ratio is up to 1.4, and the futures price is still firmly holding just above the spot price. With futures-spot parity, everyone is aligned and bullish, and the firepower hasn’t even been fully spent. And then there’s the positioning from the big players: their long positions are genuinely still being added, even within those seven hours. Even the most information-savvy people in the circle are snatching up bids. This SOL breakout to new highs has perfectly consistent logic.