At the top of a bull market, it’s often your ability to explain things that goes out of control first.

After eight years of trading, I finally figured it out: at the top, don’t keep ringing the bell. It’s like a pendulum that swings to full extension and then snaps back. Today’s movers list: $DEXE +27.154%, $BMT -18.543%, MOVR -18.229%, TUT -18.184%, HEMI +10.322%; the five USDT pairs all had trading volumes over 10M. The more glaring the divergence, the less you should shout “opportunity.”

4 signals:
1. During pullbacks, everyone calls to buy the dip. Bad news gets ignored, and any decline is called a “shakeout.” After two pushes higher, if new highs aren’t made, cut your position size by half first.
2. Capital rotates from BTC/ETH into small caps that are surging. When you’re chasing the last burst of volatility, the very first big bullish candle is the easiest to fool you—wait until both price and trading volume hold steady.
3. The gainers/losers lists both explode. Long and short sides both spike and then kill positions rapidly, and the space for stop-losses will narrow quickly. Size single-coin positions based on the loss you can tolerate—work backward from that.
4. Profit screenshots overpower the trading plan. If your entry, stop-loss, and exit aren’t clear, a bull market will also drag you into holding a losing position.

A real top often starts the moment you delete your stop-loss.

Follow @bqyb2026. Tomorrow, Yuanbao will verify the trading volumes of the top five on the movers list to tell whether it’s acceleration or distribution.