$HYPE This wave pulled up 2.1% in 15m, volume directly jumped to 3.72x, OI piled in along with it, 100th percentile, second in abnormality across the whole pool, a typical case of new leveraged longs entering, not the old short-covering routine. Funding rate also hit a recent high, price is still hovering near historical extreme levels, and short-term sentiment feels a bit overheated. Active trade imbalance is still -0.9%, buy-sell ratio 0.98, so the chase for higher prices actually isn’t that fierce, it feels more like leverage is doing the pushing. This structure either keeps squeezing shorts and pushes higher, or it’s just a one-spike move, so don’t get carried away when the funding rate is at its highest.