$RIVER's recent market performance is indeed perplexing. The manipulators repeatedly harvest profits, coupled with the persistently high funding rates, and the buying pressure is understandable. Many traders have expressed their opinions on this.

But a closer look at the chart reveals that the pattern is actually quite clear—whenever the funding rate is pushed higher, it is often the price's high point. This wave is no exception. More importantly, the four-hour K-line has already shown obvious signs of weakness, and the bulls' resilience is gradually diminishing.

Raising the funding rate essentially reflects the degree of leverage long positions crowded in the market. When participants accumulate to a certain extent, risk release is not far behind. If the short side can hold firm, it may even lead to a more favorable price range. This is not an emotional gamble, but a calm judgment based on the market's microstructure.