Will it continue to reach new highs? Honestly, I previously thought $8 was a bit conservative. This wave has been too intense, rising from 0.33 to 9.66 in 4 days, with a liquidation of 31 million USD in 24 hours, essentially a short squeeze in extreme market conditions. Now it’s stuck at a high level, and many are guessing whether it’s a trap to lure more longs or shorts. But the funding rate is still at -0.28, indicating that the market sentiment for shorts remains dominant. As long as shorts haven't been fully cleared out, there’s still a possibility for the price to be pushed higher. On-chain, some funds have indeed flowed out, but the core holdings haven't shown obvious signs of loosening. My view is simple: in the short term, don’t rule out another surge, pushing sentiment to the extreme before discussing a pullback. For such highly volatile assets, don’t rely on gut feelings to guess the top. Watching the rhythm, controlling position size, and setting proper stop-losses are more important than anything. If you’re caught, don’t panic—first clarify the structure, then respond accordingly.