$HYPE HYPE is going completely crazy, directly surging above $62, with a 24-hour increase of over 20%, hitting a nearly 8-month high. This rally is entirely caused by short sellers being pushed down and squeezed. Negative funding rates continue to ferment, forcing many shorts to close their positions, with $33.8 million in short positions liquidated in 24 hours, pushing the market higher through short covering. Meanwhile, the spot HYPE ETF's daily capital inflow has set a new record, attracting $25.5 million in a single day. More importantly, Grayscale, Bitwise, and a16z, holding as much as $356 million in assets, are still increasing their holdings, making the circulating market supply even scarcer. The current market situation is very clear: on one side, shorts are being squeezed out continuously; on the other side, institutional investors are aggressively buying up and accumulating positions, leading to a complete imbalance of supply and demand. Once this trend forms, the upward movement leaves no room for a reversal. #TradFi交易分享挑战