HYPER's recent market action has been quite aggressive. It surged 33% in one go this morning, looking very fierce, but upon closer inspection of the funding rate, it has already turned noticeably negative. What does this indicate? The big players may not be holding a large number of long positions.

After the price spiked, it immediately pulled back, which is not a small matter. The hourly chart closed with a clear bearish candle, a pattern everyone has seen before—loss of momentum at high levels, followed by a pullback to confirm the top. This is a classic top signal.

From both the funding perspective and technical analysis, the signals are aligned. The opportunity to short is actually right in front of us.